Orange County Accountant » Income Taxes

How Does The Irs Investigate Tax Evasion If Someone Has Been Paid Cash Their Not Reporting?

admin — Tue, 05 Jan 2010 13:53:01 +0000

If you turn someone in to the IRS for tax evasion when they’ve been paid with cash, does the IRS investigate bank records, etc to see if income amounts exceed the amount reported on income taxes?

When Making Estimated Tax Payments To The Irs, Do I Need To Include An Amount To Cover Self-employment Taxes?

admin — Wed, 16 Dec 2009 14:25:28 +0000

I am a self-employed consultant as of this year, so I am responsible for both income and self-employment taxes. If I cover all income taxes due with estimated taxes during the year, but do not include funds to cover SE taxes until I file in 2009, will it appear on my filing next April that I have under-paid, incurring penalties and interest?

With Irs Energy Tax Breaks No Longer Deductible In 2009, What Else Can I Do To Write Off My Taxes?

admin — Tue, 15 Dec 2009 17:25:28 +0000

2008 Income Taxes–How to negate the damaging effects of deductions that will be taken away from the IRS effective 2009.
Found out that doing energy-saving write-offs for your IRS taxes will no longer be deductible in 2009.

What Does This Tax Question Mean? If You Paid State & Local Income Taxes In 2007 For A Prior Year?

admin — Sun, 13 Dec 2009 14:31:47 +0000

“If you paid state and local income taxes in 2007 for a prior year (such as taxes paid in 2007 as a balance due on your 2006 state income tax return), include this amount as other state and local income taxes paid.
Other state and local income taxes: $____”
While filing online, I got an alert here. I did not enter anything in. What exactly is the question asking?