The IRS Audit Blog

Posts Tagged ‘social’

Question: Will filing an ‘out of business’ form for my small business trigger a tax audit?

I haven’t had any business to report in over a year (I have another full time salaried job) and want to file a going out of business notification to the dept of revenue, but I am afraid that it will increase my chances of being audited, and I have not been fastidious with my bookkeeping in the past few years. I don’t write anything off and have just been reporting ‘zero sales-tax due’, but if i dissolve the company, will this be an audit trigger?
What happens if, in the future, I sell merchandise to friends or family? (my business was jewelry repair.) I still would have my wholesale accounts, so how do I report that? What about sales tax? Also, I think the word ‘jeweler’, as a profession, is a red flag, correct? Will I be more likely to be audited?

Answer: Dear Kat26: I wish all my clients were like you “fastidious”. Bravo! Do not be afraid to report items you have maintained records on and have complied with the law. I believe many people go out of business and never report anything. Remember also this year many business’s will close their doors and will never be seen again.

This advice was prepared based on our understanding of the tax law in effect at the time it was written as it applies to the facts that you provide. Click on my profile to read more.
Errol Quinn Enrolled Agent Master Tax Advisor

Huelskamp constituents want change in DC

U.S. Rep. Tim Huelskamp, R-Fowler, doesn’t plan to start impeachment proceedings against President B …

House Session 2011-02-18 (18:02:48-19:03:56)

Question: Can my employer re-do my W-2 Form, and send it back to me?

When I recieve my W-2 Forms, some information was incorrect. Such as, a number was wrong with my SS#, my name was missing my middle name, and the address was off a bit on one. I contacted my previous employer and they told me to give the the right information and they will correct it and send it back to me? Is that right, because this is my first time filing, and having a job! Can I recieve another W-2 Form, or will I have to ask them to file W-2c Form with the SSA. I wanted to file online and you can’t with the W-2c Form. What should I tell her? Can I recieve a redo from my employer and just ask them to change in their system? Then, will I be able to file with Efile on the IRS site? Please help!

Answer: yes they can correct it. In the future you should not worry about your middle name missing or the address of by one. The only important parts are your SS# and the amount. Once they issue you a W-2, they can only correct it. They can not delete the first one. Just go with it and learn from this. Employers do not try and mess up W-2’s.

Tax deadline is extended to April 18

The Internal Revenue Service opened the 2011 tax filing season in January by announcing that taxpayers have until April 18 to file their tax returns. The IRS reminded taxpayers impacted by recent tax law changes that using e-file is the best way to ensure accurate tax returns and get faster refunds.

Loose Change 2nd Edition (Full Version + Multi Subtitles)

BET Has a Big Winner with ‘The Game’

*”The Game” used to be a loser.In its three seasons on the CW, the comedy about women involved with players of a fictional San Diego pro football team had a devoted but small following. When producers offered to revamp the series to make it more compatible with the CW’s long-form, youth-oriented direction, executives declined, eventually [...]

Hiring Reform Roll Out Part 2

Question: Tax Extension Filed Overseas by UPS or FedEx?

I live in Mexico and am filing my extension along with a payment. If I send my US tax extension via UPS or FedEX can I send on the 15th or do I need to send earlier (this weekend or Monday). What are the rules, please? Can I file at the US Embassy IRS office? Help I dont want to be late!!
in other words does a post mark by FedEx or UPS count like the US Mail?

Answer: Here’s an easy solution: Use FileLater.com (http://filelater.com) and e-file your extension… they’ll also allow you to pay directly to the IRS via direct debit from your bank account. That’ll save you the shipping costs from Mexico!

CENTRAL JERSEY: Holt introduces three stimulus bills

Living up to his campaign promises of a 20 percent tax credit, strengthening the research and development tax credit and making the R&D tax credit permanent, Rep. Rush Holt (D-12) introduced three job stimuli to the 112th Congress last week.

FASCISM: Google & IRS Scheme, Offshored Profits, Lowered Tax Rate 2.4%, Saves $3.1Billion

Question: this is a scam!?

The Irish Lottery
P O Box 1010
11 G Lower Dorset Street,
Dublin 1, Ireland
(Customer Services)

WINNING PARAMETERS
Ref Number: UK/9420X2/68
Batch Number: 074/05/ZY369
Raffle Draw Winning Email
Date:16th March, 2008

IDENTIFICATION NUMBERS{(FWC/IRS/8971}

It gives me great pleasure to inform you that your Verification and Fund Release form has passed through the proper legal verification processes and has sucessfully passed all standards in accordance with the Irish National Lottery Terms and Conditions . This is also to notify you that you have been officially cleared for payment by the verifications and fund release department at the Irish National Lottery Headquarters and your winnings has been approved for release to you.

I am in reciept of your mail and i must say that you should count yourself extremely lucky to have emerged as one of our winners in this years lucky dip sweepstakes. As you already know your email address was randomly selected along with ot

Answer: If you didn’t buy a lottery ticket; you didn’t win a lottery.

Pretty easy.

Around the valley, January 25

Azusa man arrested with pounds of marijuana An Azusa man accused of carrying four pounds of marijuana in his car was arrested Sunday night, police say.

WAR Against Working Families! Senator Bernie Sanders – Global System Collapse by NWO Design!