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What To Do After You Receive An Audit Letter
If you have received a letter from the Internal Revenue Service (IRS) about a civil audit, you are not alone. You may be feeling overwhelmed and not sure where to start. Understanding the steps you need to take, and the timeline of an audit can help reduce anxiety and help your audit go more smoothly.…
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What You Should Know About the Taxpayer Bill of Rights
The Taxpayer Bill of Rights is a document that outlines the rights of U.S. Taxpayers in working with the Internal Revenue Services. In 2015 congress enacted the Taxpayers Bill of Rights. The Taxpayers Bill of Rights codifies specific rights available to individuals and global corporations regarding tax dealings with the IRS. The basics of the…
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The Good and Bad of Offshore Tax Havens
Offshore financial centers have options for people and governments looking to protect and grow wealth. Some Offshore financial centers promote tax fraud while others do not. Tax havens are located across the globe. Some are offshore, like the British Virgin Islands, the Cayman Islands, and Hong Kong. Some countries are also tax havens, like Luxembourg,…
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IRS Processing Backlog
With the end of tax season, taxpayers remain frustrated with the extreme slowdown at the Internal Revenue Service. At the beginning of the 2022 tax season, the Internal Revenue Services had not processed 24 million returns for the 2021 tax season. The backlog included some with owed refunds. Due to overwhelming call volume, most taxpayers…
Tax Law
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