When the IRS Comes Knocking

You received the letter many dread, the Internal Revenue Service (IRS) has requested to audit your tax return. It could be for many different reasons. Maybe your income on your tax return did not match the amount reported to the IRS or your expenses seem to be a bit questionable. If so, you could be the lucky winner of a full IRS audit. No matter what reason the IRS decides to come knocking, one thing is certain – you must be prepared. As a former IRS agent, I have had the opportunity to participate in a host of audits, and time and time again, the key to surviving these unwanted ordeals is to make certain you understand your rights and responsibilities. [Read more…]

What to do with your tax refund?

Taxes chart with green pinNow that tax season is winding down, hopefully you have taken advantage of the many tax deductions available and the IRS has allowed you to walk away with a couple of dollars in your pocket.  According to the Internal Revenue Service (IRS), the average tax refund is approximately $3,000.    [Read more…]