Month: February 2014

Credit Suisse ‘aided’ US tax evaders

Credit Suisse "helped its US customers conceal their Swiss accounts" and avoid billions of dollars in American taxes, a report has alleged. It claims the [...]

Report reveals breadth of criminal tax activities

From shady tax preparation businesses to identity theft gangs to corrupt IRS agents, the IRS Criminal Investigation division’s annual report reviewing its [...]

25 Ways to Receive Tax-Free Income

The income that the tax law exempts is the best type to receive. This income becomes more valuable as your tax bracket increases. The following is a list of [...]

Tax Deduction Audit Risk

When is an itemized deduction high enough to catch the attention of IRS auditors? The tables below give you an idea. Many things can make a tax return look [...]

Be Prepared: Automobile Expenses are a Common Red Audit Flag

Almost all business owners use their personal vehicle for business purposes. And there’s nothing wrong with that, as long as they keep proper records. If [...]

Shhh, Home Office And Other IRS Audit Trigger Secrets

People have worried for decades that home office deductions flag their returns for audit. Yet more than half of working Americans work for a small business or [...]

When Your Business Expenses Are Really Personal

If an employee is sued on the job, the employer will be too. Say a delivery driver has an accident on his route. The company and the driver will be sued. But [...]

Trader or investor?

In two decisions in 2013, Endicott, T.C. Memo. 2013-199, and Nelson, T.C. Memo. 2013-259, the Tax Court maintained a high hurdle that taxpayers must clear to [...]

Feds Push Jail For Tax Crimes: Like Your Cell, Keep Your Cell

Does jail work is a large and complex question. But prosecutors are trained to want it and to push hard, in some sectors more than others. Tax charges are [...]

IRS Releases the “Dirty Dozen” Tax Scams for 2014; Identity Theft, Phone Scams Lead List

WASHINGTON — The Internal Revenue Service today issued its annual “Dirty Dozen” list of tax scams, reminding taxpayers to use caution during tax season [...]