by Leif Jensen | Jan 10, 2022 | Running a Business |
I have been warned about scope creep and the need for engagements letters to spell out ever more details. So, I should be using an engagement letter for tax returns which we do utilize for businesses and individuals. I should then have a new separate letter for any...
by Leif Jensen | Jan 5, 2022 | Taxes |
The IRS typically has three years, to audit your returns. The overarching federal tax statute of limitations runs three years after you file your tax return. If warranted, the IRS must make an additional tax assessment within the later of three years from: The return...
by Leif Jensen | Jan 4, 2022 | Taxes |
In certain circumstances, the IRS allows for abatement of penalties. Utilizing Form 843, Claim for Refund and Request for Abatement, to claim a refund or abatement of penalties assessed by the IRS. The IRS instructions to Form 843 list the instances where taxpayers...
by Leif Jensen | Jan 3, 2022 | Tax Court, Taxes |
Taxpayers have the following rights that apply whenever they have dealings with the IRS. The right to be informed – Taxpayers have the right to know what they need to do to comply with tax laws. They are entitled to clear explanations of the law and IRS...
by Leif Jensen | Dec 21, 2021 | Rant |
I was reading an article in Fast Company, where they were discussing all the new ways to make food products, which will be produced worldwide. We can’t get a third of the country to vaccinate, how are you going to get them to eat a 3D printed steak? I am sure at some...
