Do you have back tax returns that are Unfiled? Are you missing the records and forms necessary to file your tax returns?
The IRS will not allow you to file an offer in compromise or get an installment agreement if you are not current on filing your back tax returns.
If you have a refund coming to you and you file more than 3 years past the due date, the IRS will keep the refund.

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IRS explains how to claim credit for qualified fuel cell and qualified microturbine property

A new Notice carries interim guidance on the terms and conditions that must be met by taxpayers that want to claim the Code Sec. 48 credit for fuel cells and microturbines.
Background. A taxpayer may be eligible to claim (on [...]

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TIGTA study finds modest audit rate increase for C corps but marked increase for passthroughs ( S Corps)
Trends in Compliance Activities Through Fiscal Year 2007, TIGTA Reference Number 2008–30–095
A recently released TIGTA (Treasury Inspector General for Tax Administration) report reveals that despite a slight uptick in FY 2007, IRS audits of corporations have declined dramatically [...]

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What are your chances for being audited? IRS’s 2007 data book provides some clues
Mike Habib, EA
myIRSTaxRelief.comIRS has issued its annual data book, which provides statistical data on its fiscal year (FY) 2007 activities. As this article explains, the data book provides valuable information about how many tax returns IRS examines (audits), and what categories of [...]

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IRS eases rules for partial annuity exchanges Mike Habib, EAmyIRSTaxRelief.com
In 2003, IRS issued a revenue ruling formally sanctioning partial annuity exchanges as qualifying for tax-free treatment under Code Sec. 1035. At the same time, it issued a notice warning that it would go after taxpayers who use partial exchanges to avoid tax under Code Sec. [...]

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Final regs clarify treatment of loss from abandoned securities
Mike Habib, EAmyIRSTaxRelief.com
IRS has issued final regs that provide guidance on the availability and character of a loss deduction from abandoned securities under Code Sec. 165. The regs, which adopt proposed regs issued in 2007, apply to securities abandoned after Mar. 12, 2008.
Background. If [...]

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Examination and Compliance Check Processes For Exempt Organizations
Mike Habib, EAmyIRSTaxRelief.com
The Internal Revenue Service has a variety of tools at its disposal to make certain that tax-exempt organizations comply with federal law designed to ensure they are entitled to any tax exemption they may claim.
The responsibility for administering these procedures belongs to the Exempt Organizations (EO) [...]

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Guidance on timing of PPA-related amendments for calculating plan cash-outs starting in 2008
Mike Habib, EAmyIRSTaxRelief.com
IRS has issued guidance, in question and answer format, that addresses the timing of plan amendments made to comply with Sec. 302 of the Pension Protection Act of 2006 (PPA 2006, P.L. 109-280, Sec. 302), which changed the statutory assumptions that [...]

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Reconstructing Your Records
Mike Habib, EA
Reconstructing records after a disaster may be essential for tax purposes, getting federal assistance or insurance reimbursement. Records that you need to prove your loss may have been damaged or destroyed in a casualty. While it may not be easy, reconstructing your records may be essential for:
* Tax [...]

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Tax Return Preparer Fraud
Since I recently represented an innocent couple who were victims of Tax Return Preparer Fraud, and successfully helped them in their audit, I thought you might be interested in the info below.
Per the IRS:
FS-2008-10, January 2008
Return preparer fraud generally involves the preparation and filing of false income tax returns by preparers who [...]

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S corporations tax challenges by the IRS and other taxing authorities
Tax Advocate’s Report highlights S corporation issues
Despite the fact that Subchapter S corporations are the most common corporate entity (over three million S corporations filing returns in fiscal year 2006), the National Taxpayer Advocate’s 2007 Annual Report notes that IRS is still struggling to develop [...]

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How to handle the IRS at your Front Door? Is a Revenue Officer or a Revenue Agent visiting you soon?
If you find yourself face to face with an IRS Agent (Revenue Officer for collection issues, or Revenue Agent for audit and examination issues), at your front door you must remember to avoid these common mistakes:
[...]

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IRS tax audit and IRS tax problems facing transportation or construction businesses, and other similar industries
IRS SBSE-04-0108-003, 1/14/08

The IRS has reissued interim guidance that provides audit guidelines to its examiners reviewing excess per diem payments. The original guidance expired in November 2007.
The original guidance (IRS SBSE-04-1106-049) affected taxpayers who paid reimbursement allowances to employees for [...]

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IRS tax audit, IRS tax examination, IRS audit reconsideration, IRS appeal
Are you asking yourself … If I have tax problems who should I contact?
Fiscal Year 2007 Enforcement and Service ResultsAs reported in a statement issued by IRS, it has continued to make strong progress in a number of key enforcement areas. IRS enforcement efforts increased [...]

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