The IRS Audit Blog

BRIEFLY: April 2

Read about what’s happening in and around Plymouth.

Arshad at **We are Bradford** Celebrating a Multicultural Society**

Question: Claiming dependent on my taxes?

Last year most of my family lived together. My mom and I signed the lease and took care of most of the bills, etc. She’s already filed and claimed my little brother (who is 18, goes to school, and doesn’t work). Could I also claim him, considering we both provided for him? From what I read from the IRS, it seems possible, as the rule about one of us providing more than 50% of his support doesn’t apply to son/brothers.

Answer: A person can only be claimed as a dependent once per year. If your mom claimed him as her dependent, you cannot claim him.

E-File or Else: What’s New for Tax Season

Uncle Sam is making it harder for you to file your tax return on paperbut is offering some sweet deductions.

How to Prove Head of Household for the IRS – TurboTax Video 2010

Question: A couple of world history questions?

Please, only answer if you know.

1) Which of the following techniques wasn’t used by the Nixon administration against percieved enemies in the U.S.?
a- illegal wiretaps
b- arrest w/o cause
c- audits of tax returns
d- CIA investigations

2) This nations government received foreign aid from the Carter administration, but the Reagan administration aided those rebelling against it?

3) This nations affiliations with cuba led to a US invasion during the Reagan administration.

4) Nation torn apart by civil war between Muslims, Serbs, and Roman catholic croats.

5) This is the presidential practice of withholding funds for federal programs that was declared unconstitutional.
ANY ANSWERS HELP!!!

Answer: 1. b (this is just a guess)
2. nicaragua
3. nicaragua
4. bosnia
5. Sequestration (this is just a guess, it said on this one website- “the withholding or cancellation of funds”

AgFeed Industries, Inc. Announces 2010 Results

AgFeed Industries, Inc. , an international agribusiness company with operations in the U.S. and China and one of the large independent hog producers and manufacturers of animal nutrients in China announced record levels of revenue in both its animal nutrition and U.S. hog production units for the fourth quarter of 2010 and for the full year 2010.

Al Aiello Teaches Proper Ways Of Protecting Yourself From an Audit

Question: Accountants! Don’t be boring, save the planet instead!?

Have you lived in a country which should be stinking rich but is jam packed with people living in blighted misery?

The fundamental reason is always corruption in public office. Who can spot that? Only accountants. But audit within a nation is controlled by the government of said nation, and accountants with guns at their heads or bungs in their pockets are only human. So here’s my idea:

…a UN sponsored crack team of Chartered Accountants and Auditors who can be called or sent into a country and audit all or any part of the public tax and spend therein. They could have very limited powers, e.g. report only (red/amber/green), or you could give them the ability to send people to the Hague.

Participation by the countries concerned would be voluntary (which suggests that limited powers are actually more effective) and would occur if a government wanted to show itself to be clean, maybe after a scandal, or because it was excluded from some club such as WTO.

Well?

Answer: I like that idea. The practical issues (such as the breadth of specialist knowledge required) are immense though; public sector accounting is nowhere near as organised as corporate accounting (which itself varies wildly across jurisdictions). Also, the limitation of powers means they would have to face the same problems that make UN weapon inspections so ineffective.

Simplified net income taxation okayed

THE House committee on ways and means has approved a bill simplifying the net income taxation scheme (SNITS) that aims to limit from 10 to eight the allowable business deductions from gross revenues for self-employed individuals and professionals. As per the approved bill, deductions from gross income shall be allowed for only eight expenses: salaries and wages; supplies and utilities; rentals …

Energy Efficiency Audit Training | …

100+ Upcoming Social Media & Tech Events

Every week, Mashable puts together a calendar of upcoming social media and web events, parties and conferences. Here are some tips on how to ne…

ProtectOurElections.org Calls On Justice Thomas To Step Down