IRS Fresh Start Program Helps Taxpayers Who Owe the IRS

The IRS Fresh Start program makes it easier for taxpayers to pay back taxes and avoid tax liens. Even small business taxpayers may benefit from Fresh Start. Here are three important features of the Fresh Start program: • Tax Liens.  The Fresh Start program increased the amount that taxpayers can owe before the IRS generally …

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No Respect for the Tax Court

The Tax Court doesn’t get much love out there by some.  They contend the Tax Court does not have the authority to decide legal issues. However the law says otherwise. The United States Tax Court is a federal court of record established by Congress under Article 1 of the United States Constitution.  Congress created the …

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Are There Benefits of Using Templates in Business Valuations?

Using templates in business valuation is key to producing a quality report.  Most if not all valuation analysts use templates to create and write their reports and many of those templates consist of Word and Excel files that are linked together. Benefits from using templates There are many reasons to use templates to help prepare …

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Should You Use Form 1099-OID to Pay Your Debt?

You may have better luck getting the straw man from with Wizard of Oz to pay your debt than using the straw man in this scheme.  Advocates of this contention encourage individuals to use IRS form 1099-OID (Original Issue Discount), or a bogus financial instrument such as a bonded promissory note as what purports to …

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Is Your School Ready for Its Audit?

Often times, School Districts and Charter Schools are busy running the operations of their organization that they forget how much preparedness is needed for their annual or biennial audits. The summer time is a great time to take a moment to look through the items your auditors often ask for each year and do a …

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You’re A Forensic Accountant? What’s That?

Like most people, I am often asked what I do.  My typical answer is “I’m a forensic accountant.”  This gets me some puzzled looks and usually prompts a few questions.  “What does that mean?” “Do you do accounting on dead bodies?”  (One of my favorite questions ever?) “OK… what is that?” So what is Forensic …

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Feed My Starving Children charity event

This past week our team members volunteered at Feed My Starving Children to package meals for malnourished children.  All volunteers combined prepared 60 boxes of food which consists of 2,160 bags. This equates to feeding approximately 35 children for an entire year! Feed My Starving Children’s approach is simple: children and adults hand-pack meals specifically …

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