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The IRS audit notice can ruin your day remember this! So can the IRS go back in time to audit you? Internal Revenue Service audits usually go back three years, but exceptions exist. BOOK A FREE CONSULTATION NOW!
According to the Internal Revenue Service’s IRS rule 1.104-1, you are not required to pay taxes on the settlement amount that you receive for a wrongful death claim. The IRS classifies the wrongful death as a non-taxable settlement because it is part of a claim resulting from personal injury or physical illness. Understanding the taxable […]
Setting up a repayment plan is crucial as soon as you realize you have unpaid taxes. Have you known that you owe the IRS? The most important thing for a taxpayer to do in order to reduce penalties and costs associated with an IRS notification is to act immediately. Contacting the IRS often needs to […]