by Arthur Geffen | Feb 4, 2015 | Audit, IRS
Receipts are critical to good book-keeping and tax returns. But if you can’t find one, contrary to popular belief, you are not out of luck. Remember the Cohan Rule, from a still good today tax case called Cohan v. Commissioner. George M. Cohan was a Broadway...
by Arthur Geffen | Sep 11, 2014 | Audit, IRS
The Internal Revenue Service recently announced that it will monitor churches for political activity. It is a rather convoluted route that brought the IRS to this announcement. It is actually a settlement between the IRS and the Freedom From Religion Foundation...
by Arthur Geffen | Aug 23, 2013 | Audit, Estate Tax, IRS
WASHINGTON (Reuters) — The estate of pop music legend Michael Jackson is fighting the Internal Revenue Service over taxes and penalties levied on a wide range of the star’s assets, including the Neverland Ranch, his "image and likeness"...
by Arthur Geffen | May 16, 2013 | Audit
In its continuing quest to collect more taxes, the IRS is targeting small business. For the past several years, individuals instead of being audited by a live human being, are being audited by computer and unresponsive mail audits. In order to get more money,...
by Arthur Geffen | Apr 18, 2013 | Audit, Income Tax
High income taxpayers and sole proprietors are getting away with tax fraud and related penalties, according to a report released today by the Treasury Inspector General For Tax Administration, calling for stronger enforcement. It’s a call to action for the IRS...
by Arthur Geffen | Sep 19, 2011 | Audit, Gift Tax, IRS
The IRS is digging up property-transfer records in many states and checking to see if corresponding gift-tax returns have been filed. Making a gift of property to heirs has become far more popular since housing values began declining in 2006, because lower...
