by Tom Regan | May 20, 2010 | Audit
Much of the information the IRS has collected from or about a taxpayer in an audit or collection situation is available to the taxpayer. This includes the Revenue Agent’s or Revenue Officer’s notes and many of the documents they have collected about the...
by Tom Regan | Oct 31, 2009 | Audit
Reducing or Eliminating the Tax Impact of the Forgiven Debt What are the tax implications when someone forgives debt that you legally owe? Is the amount forgiven taxable income to you? It really depends on a variety of facts. In this article, we will briefly address...
by Tom Regan | Sep 30, 2009 | Audit
One of the many decisions a business owner must make during the first year of operating is what accounting method is most appropriate for the company. While the Internal Revenue Service (IRS) requires that some taxpayers use the accrual method, for example, retail...
