The IRS Audit Blog

Posts Tagged ‘web2.0’

Question: what’s the address where u send payments to the irs in utah?

Answer: Since I don’t know where you live or what type of tax form you’re sending in, I suppose it would be best if you look the information up yourself. A good location to start would be to go to http://www.irs.gov/file/index.html and look up the address by the State you live in.

Senate Releases Draft of Jobs Bill

Senate Finance Committee leaders publicly released a draft Thursday of the widely anticipated jobs bill they plan to introduce, including payroll tax provisions and the extension of a number of tax provisions that expired last year.

Ron Paul in Utah!!! Salt Lake City Speech to 800!!!

Distress Signals on Crisis Watch

To be sure, almost without debate, all the financial world has turned to crisis mode. One can safely describe the norm to be crisis proliferation. This theme will clearly continue for the full year in progress. The signs are everywhere. The evidence is compelling.

Gunnar Nelson vs Barry Mairs

BRIEFLY: April 6

Read about what’s happening in and around Plymouth.

9-9-18 150 Secret Swiss Account holders in US face prosecution up to 4300 to follow

Question: Filing extension for previous year taxes

A friend got a letter from the IRS because his wife failed to report a w-2 on a previous year return. He needs an extension on this deadline in order to get her to sign the form as she lives 500 miles from him now. Is there a way to do this online? The number they gave him doesn’t go through. He keeps trying.

Thanks in advance.

Answer: You can’t get an extension, call IRS at 1-800-829-3009 and discuss your situation. No you can’t do this online, Sound like your friend received a CP2000 here is instructions on how they should respond.
Should I call with my response or mail it in?
Your response may be as simple as directing us to a line on your original return where you included the income with another income source. If this is the case, please call the following phone number and provide the information to the Customer Service Representative with whom you speak. If the notice was generated from Brookhaven, Ogden, or Philadelphia the number is 800-829-8310. If from Atlanta, Austin, or Fresno the number is 800-829-3009. It may be necessary to write if the issue is more complicated and you disagree with some or all of the proposed changes. In that case, write a complete explanation of the reasons you disagree. Also, attach copies of any relevant documents. These may include copies of Form 1099, Miscellaneous Income, Form W-2c, Corrected Wage and Tax Statement, letters received from payers explaining any changes or corrections, or any other items that support your position. If you have an unusual tax situation, attach a written statement explaining the reasons you’re reporting specific income items in a certain manner or why you’re not reporting the income at all.

I need more time to find my records and go through them all. Will you allow me additional time to respond?
It’s important that you respond to the CP 2000 by the due date shown on the notice. If you don’t, we’ll assume the proposed changes are correct and continue processing the proposal ultimately to an assessment. If you find you can’t respond by the due date on the notice because you need more time to research your records, please call the toll free number at the top of your notice. We’ll update our records to show you’ve requested an extension. Generally, we’ll allow an extension 30 days beyond the response date shown on the notice. We may also provide additional time to respond if you have unusual circumstances. It’s important to remember that additional interest and any applicable penalties will accrue on the account during the period of the extension if the tax increase is correct.

AZ oversight agency eyes SEABHS action

The agency designated by the state to manage publicly funded behavioral health services in Santa Cruz, Cochise, Graham, Greenlee and Pima counties is on the verge of issuing a corrective action plan to the embattled Southeastern Arizona Behavioral Health Services.

Pastor & Church Controlled 30 Ways to Sunday irs 501 Part 3

Question: Can someone please help explain to me where to start with this tax question?

Before paying salaries to its two shareholders, Steamboat Corporation has net income of $640,000 during the year ($1,200,000 revenue – $560,000 operating expenses). Dean and Mary are equal shareholders of Steamboat and work in similar jobs as employees of the corporation. Steamboat pays each shareholder-employee a salary of $320,000, which results in zero taxable income for the corporation. On audit, an IRS agent determines that $40,000 of the amount paid to each of the shareholders is unreasonable compensation. The shareholders’ tax adviser has told them that the IRS agent is probably correct in his determination. What effect will the IRS agent’s finding have on the taxable income of Dean, Mary, and Steamboat Corporation?

Thanks so much, I have been working on this question for a while now and cannot find an explanation in my book.

Answer: Warning: I am not an accountant. Let’s use common sense. They paid $320,000 to each of 2 people. The IRS says that was $40,000 too much. I would assume they have to adjust that down to $280,000 each. Each person loses $40,000 of taxable income. That removes $80,000 from Steamboat’s expenses, so Steamboat now has an $80,000 profit. I assume Steamboat may have to pay taxes on some of that. I believe what happens next depends on the type of corporation Steamboat is, but I repeat, I am not an accountant.

Changing face of the Indian civil servant

Time was when the cream of the public school-educated middle class dreamt of getting into the civil service; they slogged their guts out to pass the Union Public Service Commission entrance exams. TOI-Crest maps the structure of the new establishment.

IRS Agent Exposes IRS Fraud!! – Joe Banister