The Secret Cost of Ignoring IRS Notices

The Secret Cost of Ignoring IRS Notices

Opening your mailbox, you see that familiar logo—the IRS. Moreover, your stomach drops. You set the envelope aside for later. We’ve all done it. However, when it comes to notices from the IRS, waiting only makes things worse. This illustrates Cost of Ignoring IRS. At...
What records do I need in an IRS Audit

What records do I need in an IRS Audit

What records do I need in an IRS Audit Taxpayers are required to maintain books and records When a taxpayer is audited by the IRS, the burden of proof falls on the taxpayer to support the information on his or her return. The United States Tax Court has ruled that the...
IRS Penalty for Non-filing & Failure to Pay

IRS Penalty for Non-filing & Failure to Pay

The Internal Revenue Service (IRS) wants taxpayers to file their tax returns on time and pay their tax bill. To incentivize taxpayers. the IRS has imposed penalties for noncompliance. Failure to File Penalty: The failure to file penalty is imposed when a taxpayer...