The Chances of Being Audited 2013 audit statistics show changes
Alimony in the Spotlight
Setting up Your Business Accounting System
Looking for a Summer Job
The Month of May:
June 15th: Father's Day
June 16th: 2nd Quarter Estimated Tax Due
July 4th: Independence Day
With the end of tax filing and the start of summer why not focus on new beginnings? Included in this month's newsletter are some ideas to help find summer employment and some suggestions on the benefits of creating a good accounting system for your small businesses.
Wonder what the IRS has in store for audits? Consider reviewing the article on audit statistics and a new area of focus within the agency on alimony reporting compliance.
Should you know of someone who may benefit from this information please feel free to forward this newsletter to them.
The U.S. Treasury Department recently released an audit report revealing a disturbing level of non-compliance in alimony reporting on tax returns. This non-compliance will result in vast increase in tax return reviews now and in the years to come. Here is what you need to know.
The Treasury Inspector General for Tax Administration (TIGTA) recently conducted an Audit of 2010 tax returns that claimed an alimony deduction. What they found:
Over 560,000 taxpayers reduced their income for alimony paid in 2010.