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Tax Tips

IRS audit rates are going back up after falling to all-time lows as the IRS put funds into updating computers, customer service and other programs. Now the reorganization is almost over and the IRS is back to enforcement with a vengeance.

For example during 2003 the audit rate for all individual tax returns rose 14%, the audit rate for taxpayers with incomes over $100,000 rose by 31%.

Seizures, liens and levies are rising too! Seizures rose 539% of what they were in 2000, Liens rose 327% and levies rose 765%.

The IRS is doing much more to audit smart like national research programs so they can select audit targets with greater effectively like computer matching programs for K-1s to find income paid by partnerships, S corporations and trusts to taxpayers.

Offshore transactions are made a high priority and the IRS is aggressively pursuing those who use foreign bank accounts to escape taxes. Another high priority target is abusive tax shelters which have been promoted on the internet.

Specifically targeted: Those with “total positive income before taxes but low net taxable income after deductions.

The IRS has started new information-sharing programs with states for use in shelter cases and others to detect tax evasion.

Congress is demanding that the IRS crack down in our era of budget deficits and has appropriated

What can we do for you?
We can review the assessment by the IRS to see if they made any mistakes in calculations or in the application of the law to reduce your deficiency. As a former Tax Counsel for the Department of Finance I know there are many mistakes that can be made at the Audit level.

We can make offers to settle the matter and if that doesn’t work; we may appeal the auditor’s decision to his superior. The agents are under pressure to close cases so they don’t want too many cases to be appealed as this doesn’t look good on their performance review.

We may make an Offer in Compromise to the IRS, that is offer to pay less than the assessment because you cannot make or ever make payment.

We may offer to pay off the deficiency in installments as that may be much easier for you.

If we are convinced that we can get a better deal form the IRS, we will tell the Service that we are filing with the Tax Court for a trial. This usually has the effect of getting a settlement offer accepted.

There are more strategies for dealing with the IRS; let us explain them to you.

Do you have tax problems? Or do you simply want professionals to prepare your returns? If so, consult the experts. Greenberg & Merola, LLP has CPAs associated with our firm to help give you the correct expert advice you deserve!

FREE OFFER: Call today and request the reports we publish. DON'T LET TAX PROBLEMS HOLD YOU BACK!

Call today for FREE 5 SECRET TAX TIPS on what business owners can do to end IRS difficulties.

TOLL FREE (877) LAW FIND or (212) 593-6111

Call today for FREE CONFIDENTIAL IRS TAX REPORT on what you can do to end IRS problems: (877) LAW FIND or (212) 593-6111

 



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This website provides general information. Due to complexities and constant changes in the law, exceptions to general principles of law, and variations of state laws, seek professional legal advice before acting on any matter!

Some of the information on this website only pertains to certain states. Accordingly seek professional legal advice before acting on any matter.