Category Archives: Tax
Common triggers for IRS tax audits and how to avoid them
Facing an Internal Revenue Service (IRS) tax audit can be intimidating, but understanding common triggers can help avoid this situation.…
Have a clean record? You may qualify for penalty abatement.
Nobody enjoys receiving a penalty notice from the IRS – it feels overwhelming and scary. However, there’s good news for…
What triggers an IRS audit?
In Dallas, as in other parts of Texas, the Texas Comptroller of Public Accounts conducts tax audits. Although the state…
Why was my offer in compromise request rejected?
Getting behind on paying your taxes can cause considerable problems for your business. Working with your attorney, you consider your…
Consequences of ignoring a CP504 notice
Life gets busy, and sometimes, important notices slip through the cracks. However, you can face serious consequences when you ignore…
What happens when you underreport your small restaurant’s income?
Starting a small restaurant can be a thrilling venture, but it can also be overwhelming. As the owner, you are…
From entrepreneur to tax debtor: Common business owner mistakes
Starting a business can be a thrilling venture, but it can suddenly turn into a nightmare if you are not…
Amending your tax returns: What you need to know
Have you ever filed your taxes only to realize later that you made a mistake? Don’t worry; it happens to…
What should you do after receiving a notice of deficiency?
Receiving a letter of deficiency from the Internal Revenue Service (IRS) can cause significant concern for taxpayers. This formal communication…
The differences between correspondence and field audits
To check if taxpayers are reporting their income and deductions correctly, the Internal Revenue Service (IRS) employs various methods, such…
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