Have you ever wondered the chances of the IRS selecting your return for an Audit?There are other factors that influence whether or not your return is selected, but here is a basic breakdown (from our newsletter) by income level of who is selected for audits:
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The DoL has issued new rules for overtime that go in to effect on December 1, 2016. Overtime rules are regulated in the FLSA (Fair Labor Standards Act). The FLSA provides exemptions from paying overtime to employees who meet all three the following three tests: Salary-level test: Employees must make above a certain threshold to…
Each year the IRS announces “Dirty Dozen Tax Scams” they encounter regarding frivolous tax arguments and fraud. While six of the “scams” are related to, “don’t cheat we have our eyes on you,” the other six are scams that all of us should be on guard to detect. Identity theft. Identity theft tops the list…
Phone scams from IRS impersonators always increase dramatically this time of year. Last year more than $20 million was lost to these scams. Here are some things to remember: 1. The IRS will contact you by certified mail before any enforcement action. 2. The IRS will never demand money over the phone or mandate a…