MyIRSRelief

MAY 2, 2022

Amending and or correcting a US corporate 1120 or 1120S business tax return (1120X), there are many reasons to do so: Corporate business returns often require amendments to correct errors or to claim overlooked income, deductions or tax credits after the filing of the returns, if located in Los Angeles, CA or other city.

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MyIRSRelief

JUNE 28, 2024

Tax audits can be a daunting experience for any taxpayer. The California Franchise Tax Board (FTB) conducts audits to ensure compliance with state tax laws and to verify the accuracy of tax returns. Get help with FTB CA tax audit representation by calling us at 1-877-788-2937.

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audit California Tax tax return 130

TaxConnex

MARCH 30, 2021

When you think about tax compliance, of any kind, the first thing that comes to mind is filing, or even the tax return itself. Compliance with sales tax goes way beyond that. Here are some other aspects of sales tax that you shouldn’t overlook when trying to ensure your company remains compliant.

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tax return Sales Tax audit 246

TaxConnex

JULY 9, 2024

Yet often we see differences between a client’s billing system and their tax reporting. You could be billing taxes within your billing system and yet haven’t filed a single sales tax return and haven’t tracked the tax data to be aware of a future filing obligation. Tax types and nexus pose other wrinkles.

Sales 264

Sales Tax Colorado tax return 264

MyIRSRelief

JUNE 3, 2024

Tax Audit Representation Learn how to navigate tax audits with confidence. Facing a tax audit can be a daunting experience, but with the right representation, you can navigate the process with confidence. For professional audit representation help call us at 1-877-788-2937.

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CTP

JANUARY 17, 2025

One of the many roles we play as tax planners is as the taxpayers audit support system. Just the word audit can cause the typical taxpayer to panic. We can help reduce taxpayer stress by orienting them to audit basics long before that notice comes in the mail. billion of potentially fraudulent ERC claims.

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audit Tax auditor tax return 96

CPA Practice

SEPTEMBER 22, 2023

Taylor, Kiplinger Consumer News Service (TNS) IRS audits raise anxiety for many taxpayers. That’s been the case with the earned income tax credit (EITC), which has been the subject of recent controversy. (A Fewer IRS audits involving credits for taxpayers with lower incomes? Now, in a Sept. Now, in a Sept.

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audit income tax tax return Tax 119

TaxConnex

JUNE 8, 2023

Clients will be given individual logins to provide their data, review their cash requests, pull reports, and tax returns, and view historical data, thus removing some of the manual processes clients and practitioners navigated through previously.

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tax return audit Tax Sales 246

Withum

APRIL 12, 2022

The tax due date for most individual tax returns this year is April 18. If you are unable to complete your return to file by April 18, you can file for an extension to submit your return by October 17. However, the extension does not cover the payment of the tax due.

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TaxConnex

OCTOBER 20, 2020

Consumer’s Use tax is imposed on the storage, use or consumption of a taxable item or service on which no sales or seller’s use tax has been paid. These forms and the corresponding tax you are required to remit are determined and set up by the state based on the company’s initial registration as a taxpayer in that state.

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tax return Sales Tax Expense Management 113

MyIRSRelief

JANUARY 7, 2024

Tax audits can be a daunting experience for any taxpayer, and when it comes to the Employment Development Department (EDD) audits, the stakes can be particularly high. The EDD is responsible for administering unemployment and disability insurance, payroll tax collection, and job training/workforce services in California.

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TaxConnex

MARCH 12, 2024

Dependency and worry Automation figures strongly in how companies stay ahead of their sales tax obligations, according to results from the third annual Taxconnex survey of top finance professionals. Based on these elements, the sales tax calculation software will determine if sales tax is applicable and at what rate.

E-commerce 264

E-commerce Technology tax return Sales 264

CPA Practice

MAY 26, 2023

It is stepping up efforts to audit employers as aggressive promoters continue to make a pitch for fraudulent refunds (IR-203-40, 3/7/23). This type of scheme was recently included on the IRS’ list of the Dirty Dozen tax scams to watch out for in 2023. Failing to provide accurate information about the credit.

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audit general ledger income tax tax return 138

Withum

FEBRUARY 8, 2023

But as with any popular tax credit or deduction, the IRS is sure to be close behind. We’ve written about IRS audits rolling out last July, and the IRS followed up our article with a warning to taxpayers regarding third-party promotion of improper ERC claims. An IRS audit can be scary, but this is especially true with ERC audits.

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audit income tax tax return payroll tax 120

MyIRSRelief

MAY 15, 2023

If you receive a notice of an IRS or state FTB-CDTFA-EDD tax audit, it’s important to understand your rights and options. Tax audits can be stressful and intimidating, but with the right representation, you can navigate the process with confidence.

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audit Tax auditor tax return 130

MyIRSRelief

OCTOBER 28, 2022

The board uses several methods to collect owed taxes. The most frustrating method is the audit and if you receive an exam notice in the mail, you better take it seriously. This should include your right for CA FTB Audit representation. Our tax representation firm can help you get the best possible outcome from your audit.

California 130

California audit Tax income tax 130

CPA Practice

MAY 25, 2023

It is stepping up efforts to audit employers as aggressive promoters continue to make a pitch for fraudulent refunds (IR-203-40, 3/7/23). This type of scheme was recently included on the IRS’ list of the Dirty Dozen tax scams to watch out for in 2023. Failing to provide accurate information about the credit.

audit 130

audit general ledger income tax tax return 130

TaxConnex

JANUARY 4, 2022

Whether you manage the process in-house, work with a technology vendor or outsource completely, you must understand the pieces to remaining compliant: remitting payments; maintaining and updating your tax calendar; reviewing nexus; keeping up with notices; researching taxability rules; validating exemption certificates … the list goes on.

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tax return Sales Tax Start-ups 242

TaxConnex

NOVEMBER 30, 2021

For sales tax, data consistency is critical because inaccurate or incomplete data can lead to inaccurate return filings and, ultimately, notices and increased risk of audit. Include sufficient information in file names to identify the data quickly; shorthand should be understood by all employees as quickly as possible.

E-commerce 246

E-commerce tax return Sales Tax 246

CPA Practice

MAY 6, 2023

Suppose you get a letter in the mail from the IRS notifying you that you’re being audited. First things first: Check to see if the IRS will be conducting a correspondence audit or a field audit. Generally, a correspondence audit is less intrusive than a field audit, but both must be taken seriously. Don’t panic.

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MyIRSRelief

AUGUST 2, 2024

This dichotomy creates a complex tax landscape for cannabis businesses, particularly concerning compliance, audits, and the infamous Section 280E of the Internal Revenue Code (IRC). Get professional tax help by calling our tax firm at 1-877-788-2937. Preparing for an Audit Preparation is key to surviving an IRS audit.

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Snyder

DECEMBER 28, 2022

Many small business owners often feel like they might be a heartbeat away from the IRS tax audit. In fact, according to the IRS data , only about 1 percent of taxpayers are facing an audit. percent of small businesses are getting tax audited. What is a tax audit? What does a tax audit mean?

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audit Tax tax return auditor 98

inDinero Accounting

AUGUST 19, 2024

As a small business owner, few phrases strike fear quite like “IRS audit.” ” While the chances of getting audited by the IRS are relatively low, understanding audit risk factors and implementing preventive measures can provide peace of mind and financial security. How Often Do Small Businesses Get Audited?

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ThomsonReuters

NOVEMBER 8, 2022

Today’s accountants must not only be up to date on the latest tax regulations, but also understand accounting technology and how it can be leveraged to boost efficiency, accuracy, and productivity. How is information technology used in accounting? What are the benefits of accounting information technology? .

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Technology accountant Account accounted 98

MyIRSRelief

JANUARY 2, 2023

Types of IRS tax problems and how to resolve them. There are many types of IRS tax problems that individuals and businesses may encounter. Some common tax problems include: Failing to file a tax return: If you fail to file a tax return (1040, 1120, 1065, 941, etc.),

Tax 147

Tax tax return payroll tax audit 147

ThomsonReuters

DECEMBER 10, 2024

Predictive AI Predictive AI, which many firms already use, focuses on analyzing historical data to make forecasts and inform decisions. These tools excel at identifying patterns and trends, helping tax professionals anticipate future outcomes based on past performance. Read full press release 3. How is agentic AI different from RPA?

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audit Tax Technology tax return 91

ThomsonReuters

DECEMBER 10, 2024

Predictive AI Predictive AI, which many firms already use, focuses on analyzing historical data to make forecasts and inform decisions. These tools excel at identifying patterns and trends, helping tax professionals anticipate future outcomes based on past performance. Read full press release 3. How is agentic AI different from RPA?

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audit Tax Technology tax return 97

ThomsonReuters

MAY 12, 2022

What triggers a sales tax audit and how do you reduce the risk of an audit? Almost all companies undergo a sales tax audit at some point. This sales tax audit guide can help indirect tax teams avoid common audit triggers and manage the sales tax audit as smoothly as possible.

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audit Sales Tax auditor 105

CPA Practice

MAY 16, 2023

Following the release of the Stanford University study in early February, Wyden and other lawmakers demanded the IRS review and make changes to its auditing processes. The higher audit rate for Black taxpayers is due to a flawed artificial intelligence algorithm used by the IRS to decide who gets audited, the study’s authors said.

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audit tax return accounting and finance Tax 98

MyIRSRelief

OCTOBER 11, 2024

An Enrolled Agent (EA) is a federally-authorized tax practitioner who has technical expertise in the field of taxation and is empowered by the U.S. Department of the Treasury to represent taxpayers before the Internal Revenue Service (IRS) for tax issues including audits, collections, and appeals.

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tax services payroll tax Tax tax preparation 130

CPA Practice

MAY 17, 2023

Following the release of the Stanford University study in early February, Wyden and other lawmakers demanded the IRS review and make changes to its auditing processes. The higher audit rate for Black taxpayers is due to a flawed artificial intelligence algorithm used by the IRS to decide who gets audited, the study’s authors said.

audit 98

audit tax return accounting and finance Tax 98

MyIRSRelief

OCTOBER 3, 2022

There is a substantial amount of time you have to file your taxes, but the process can seem hefty. With the help of Los Angeles tax services firms, you can receive information on your tax return, the amount you owe, and various resources for tax preparation service. Los Angeles Tax Representation Services.

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tax services California Tax tax preparation 147

MyIRSRelief

FEBRUARY 1, 2023

Tax anxiety, TAXIETY, comes in different forms of tax problems such as: What is an IRS audit taxiety? An IRS audit is a review or examination of an individual’s or organization’s tax return to ensure that the information is accurate and that the tax return is being filed in compliance with the tax laws.

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Tax tax return cpas audit 147

Withum

MARCH 7, 2024

Has the IRS Ramped up the Number of ERC Audits? The IRS has significantly increased the number civil and criminal audits, and it has centralized the audit process. We are now seeing the IRS issue standardized information and document requests (IDRs) from a centralized office in Austin, Texas. Yes, but very slowly.

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Tax income tax tax return audit 126

MyIRSRelief

NOVEMBER 1, 2024

The main advantage of an S Corporation is that it allows income, losses, deductions, and credits to pass through to shareholders for federal tax purposes. This means that the business itself is not taxed at the corporate level. This means that the corporation’s income is not subject to corporate tax rates.

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tax preparation tax planning corporation tax Tax 130

Withum

MARCH 15, 2023

We noticed the uptick in audit activity and are seeing a significant increase in IRS audits of ERC claims. The IRS also noted that promotors may not be upfront with taxpayers about the requirement to amend their federal income tax returns to reduce wage deductions by the amount of the credit.

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tax return income tax audit Tax 130

MyIRSRelief

NOVEMBER 3, 2023

Mike Habib, EA: Your Ally in Navigating Tax Problems Tax issues can be a source of significant stress and confusion. Whether it’s unfiled tax returns, unpaid back taxes, tax audits and appeals, or 941 employment payroll problems, these issues can seem insurmountable.

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Tax tax return audit tax preparation 130