Archive | IRS

1040 Tax Form with Refund Check and Cash.

Tax Filers May Get Unpleasant Surprise

Tax Bill Changes Due to all the changes in the tax bills some taxpayers may find that their refund is not as much as they have received in the past. According to IRS the refund averaged about $2,800 of the majority of taxpayers. Some of our taxpayers might have gotten more income during the year, […]

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Dining And Wining

There Have Been Many Discussions About entertainment and meals deductions under the Tax Cuts and Jobs Act. The answer is different for each. A reference that you might check is IRS Notice 2018-76.  Put that in your browser and you have your answers. My understanding is that deductions for entertainment, amusement, or recreation are kaput, […]

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What Are Your Chances Of An IRS Audit?

You Finished Your Taxes You drove to the Post Office that was open till midnight, and mailed your return. For many years I did drive to the Post Office on Sherman Way in Van Nuys. Then, things changed and I started driving there on October 15th. You know the drill. Now That You Have Sent […]

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Tax Cuts And Jobs Act Versus Lunches

Prior To The New Law My Simple Understanding Of Tax Law Was: Business Lunches With First Tuesday:     50% Deductible Lunches For My Outstanding Staff For My Convenience:   100% Deductible New Regulations Effective January 1, 2018 And For My Tax Return Of March 15, 2019: Business Lunches:   Same Lunches for my staff:    50% and not deductible […]

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IRS And Their Collection Efforts

In A Previous Article I Mentioned That IRS Was Hiring Collection Agencies To Help Them Collect Delinquent Tax Payers. It did not go well. In A Report From The Agency’s Taxpayer Advocacy Service, They Spent $20M In 2016 And 2017 To Collect, Wait For It: $6.7M And There Is A Question About $1M Of That […]

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piggybank with eyeglasses and calculator on wooden table

A Little Humor From IRS Tax Quotes From Their Website

“Taxation with representation isn’t so hot either.” — Gerald Barzan, humorist “Income tax has made more liars out of American people than golf.” — Will Rogers “The hardest thing in the world to understand is income tax.” — Albert Einstein “I am proud to be paying taxes in the United States, but I could be just as proud […]

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IRS Is Now Hiring Debt Collectors

From An IRS Announcement In June 2017: The Internal Revenue Service began a new private collection program of certain overdue federal tax debts selecting four contractors to implement it. A bill passed by Congress in December 2015 requires IRS to use these agencies. The contractors must follow the consumer protections of the Fair Debt Collection […]

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