There's an explanation for why returns claiming the EITC are more likely to trigger an audit than other tax returns. One analysis found that as many as half of returns claiming the tax credit had erroneously claimed too much, or even incorrectly claimed the credit at all,accordingto the cons...
"Anytime people hear the IRS will auditing more, they are going to be concerned," noted Eric Bronnenkant, head of tax at financial services firm Betterment. But, he added, "The audit rates are not likely to increase dramatically, I would argue, for people whose sole income is a W-2 ...
Thanks to the Babylon Bee, we now know the 17 qualifications. I though eight of them were particularly amusing. What will all these new IRS agents do? I doubt they’ll be answering the phone. Instead, I think we’re more likely to see small businesses being harassed. Here’s one exampl...
Rachael: The thing that's fascinating to me is the more explosive use of cryptocurrency and more for kind of mainstream. I think PayPal, I could send payment in crypto. Twitter, I think you could buy ads in crypto and people are using crypto to buy some of those NFTs. Another Interestin...
guidelines like this to minimize the chances that encryption will get in their way. They aren’t recommending ECB with the idea that they–or anyone–will exploit the information that it leaks. They are recommending ECB because it is the simplest, LCD, and therefore most likely to work in ...
to auditing poor people (who can’t afford professional help and might make minor mistakes filling in the highly technical and complex tax forms), until today, an IRS audit is just as likely to target low-income earner whose meager pay entitles them to a tax credit is as it is to target...
The national taxpayer advocate said it likely will take at least a year for IRS to return to normal operations. 2aI. IRS Independent Office of Appeals 3The first provision in the House bill would establish an IRS Independent Office of Appeals. As a tax practitioner for over 40 years, I’...
Freedom of Religion was established and became part of the English Bill of Rights and later it became the First Amendment to the Constitution. William Penn most likely would have been executed if the jurors would have yielded to the guilty verdict sought by the judge and prosecutor. It is an...