The quick and not even remotely tongue-in-cheek answer to the above-posed headline question is this: not much. In fact, if you are a conscientious Minnesota taxpayer duly seeking a telephone response regarding a return-related question from a federal tax agent this upcoming season, you might be confronted by dead air and not much else. Here’scontinue reading…
IRS
Topic focus: The Minnesota Department of Revenue
It might be easy sometimes for Minnesota taxpayers to momentarily forget that there are parallel tax systems operative in the United States that they do, indeed, need to pay close attention to. Obviously, the federal Internal Revenue Service looms large and comes immediately to mind when the subject of taxes comes up. Uncle Sam’s taxcontinue reading…
Further IRS budget cuts: warning calls on curtailed performance
Here’s something extra that taxpayers seeking to contact the Internal Revenue Service might soon have to start thinking about: Will its offices be open? That is far more than an academic question, given the money shortfalls the national tax agency is dealing with owing to a congressional budget ax that is lopping off huge amountscontinue reading…
Mistake or not, IRS may be the final arbiter of your motivations
Last month, we wrote about the distinction between “fraud” and “negligence” when it comes to your taxes. In other words, this is the difference between an honest mistake and an inaccuracy that you might have made on purpose – particularly one that benefits you in some way. Of course, you are the only person whocontinue reading…
Report on IRS search and seizure process: It’s broken, so fix it
A federal law requires that an individual — often a business owner — attend to more than a modicum of paperwork following any bank deposit that exceeds $10,000. Such has been the case for a number of years, the rationale for the requirement being the federal government’s stated desire to uncover illegal activities such ascontinue reading…