The IRS Audit Blog

Posts Tagged ‘business’

Question: attorney schooling and pay?

how much education is required to become a “good” attorney and what is the pay after taxes?

Answer: You have to go to college for 4 years, law school for 3 years and then you must past the bar in order to practice.

The pay range is anywhere from 30K just coming out of law school working at a nonprofit to over a million dollars a year if you are a senior partner at a big law firm in a large metropolitan area.

Can’t tell you about taxes because how much tax is taken out depends on your tax bracket and that’s determined by your adjusted gross income.

You need to be close to the top of your law school class to be able to get the highly competitive and well paid legal jobs. Definitely top 20% and above.

Attorney glut may hit foreign firms

One of the interesting things about being part of Japan’s new law school system and its role in greatly increasing the number of Japanese attorneys is this: Nobody seems to have bothered asking the Japanese people if they actually need more attorneys. The original target of increasing the number of people allowed to pass the annual Japanese bar exam to 3,000 by 2010 was based on a government …

Collection Appeal Process (CAP Appeal)

Question: If a small business did’nt report your income and you don’t file your taxes will they find out?

I work for a small Company fresh out of college, I made less than 20,000 this past year. I Live at home with my parents, i dont have many bills. I noticed we forgot to send in the official form A 1099 copy to the IRS reporting everyones income. There are only like 3 employees. I would like to know what would happen if i did’nt file my taxes. I could really use the extra money but i dont want to get in trouble.

Answer: You didn’t mention if the company you worked for withheld any taxes from your check. If they did you already have paid the taxes and may be due a refund. And if the company didn’t make regular deposits of those taxes withheld they would face fines and penalties, of which you would not be responsible.

However, you mention sending out 1099′s, which is used to let the IRS know that a company has paid an individual as an independent contractor rather that an employee. Companies usually do not withhold taxes from independent contractors and you would be responsible for the taxes.

If the owner of the company files a return for the company then he would be listing the amount paid as salaries. The IRS may take note of the expense item on the company return and wonder why there are no collaborating W-2′s to back it up. Which means that the company may get audited, and find out that you would owe the taxes.

New EPA regional boss’ top priorities, by state

Associated Press – February 13, 2010 9:35 AM ET Here’s a look at some of the top priorities for EPA Region 6 administrator Al Armendariz, the new head of operations for Texas, Louisiana,…

Tips for Filing Your Tax Returns from the Tax Expert

Question: Anyone know about w2s and taxes?

So, I worked for a small doctors office/urgent care office..they paid me by a business check, but DID take out taxes. I still have not gotten my w2 from them. They told me that it was ready last week, but then he couldn’t meet me, and said he wasn’t spending money on mailing it. I tried calling the IRS, they said call back after the 15th..I intend on calling, just wanted some advice. What can.should I do??

Answer: Form 4852 is a substitute W-2 form where you enter the name, address, dollars earned and paid to you and other data. Use it to create your tax return and file same. The nice people at the IRS will make personal contact with the doctor who is slow in his responsibilities and assist him.

Home is where your small business tax deduction is

Many people who received buyouts and severance packages last year used the money to start home-based businesses. Now, they’ll want to take tax deductions for their home offices.

IRS Oversight – 6

Question: Law school after bachelors in accounting?

i am a accounting student(sophomore year), i plan to go to law school after my bachelors, i want to become tax attorney.

can you tell me how long does it take to become one. after i get my bachelor degree.

can i get into law school rite after my bachelor or do i need to work and get exprience for few years and then go to the law school.

Answer: Law school is 3 years.

Your major doesn’t matter, just make sure you complete whatever classes Law schools require to apply and matriculate. You will also need to take the LSAT before applying.

EDIT: And yes, you can go to law school straight from college. Work experience is not necessary.

McCollum Names Jacksonville Sheriff’s Deputy the 2009 Law Enforcement Officer of the Year

Attorney General Bill McCollum named Jacksonville Sheriff’s Deputy Jared Reston as the recipient of the Attorney General’s Law Enforcement Officer of the Year award for 2009.

[Introducing L3C - Part 1] L3Cs: Social Enterprise’s Powerful, New Capital Formation Tool

Question: What form to I file to close an internet business. Filed SS-4 with IRS for EIN. What do I do to close down?

Answer: File a business return and mark it as Final Return. Form 1065 for partnership or LLC. Form 1120 for corporation. Form 1120-S for S corporation.

Employee form deadline

One of your tax housekeeping tasks in connection with your employee is the filing of a W-2 for your employee. This deadline usually is Jan. 31, but this year that falls on a Sunday, so you get until Monday, Feb. 1 to complete the paperwork.

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