International Tax Update: Undisclosed Foreign Accounts
International tax issues are coming in the door of our Atlanta CPA firm with greater frequency. In part, this is expected in an ever expanding global marketplace. Of greater concern, however, is the “perfect storm” of enhanced IRS international tax enforcement in the age of the internet. Easily available data and information sharing between countries […]
How IRS Audits Work [Updated for 2021]
IRS audits are fraught with mystery. Yet, IRS audits generally unfold in a routine manner. It is worth taking time to remove the mystery so people know what to expect and how to deal with it. The reaction that we see among clients in our Atlanta, Georgia accounting firm is nearly universal: The clients receive […]
Tax Evasion: Recent Case
Tax evasion is squarely in the sites of IRS auditors and the IRS criminal investigation division, especially as it relates to cash-based businesses. Tax evasion is also known as tax fraud. On September 10, 2020 the United States Attorney’s Office announced the sentencing of Mr. and Mrs. Brocato in a court trial that is a […]
Who Does the IRS Audit?
The IRS Audit and the receipt of IRS notices seem to be becoming more and more prevalent among Atlanta taxpayers. The IRS regularly examines third party documentation to identify income that is missing on tax returns. Most commonly, this includes 1099’s and W-2’s. This the cause of millions of IRS notices that go out to taxpayers every […]