By henrykcpa
The estimated annual tax gap is $450 billion. With the current budget deficit set at more than $1.3 trillion, the IRS will push to close the tax gap to help with the deficit. The following are 4 ways the IRS will attempt to do this.
More computer-matching and mail-driven compliance programs. It is more cost-efficient to use technology and mail than
Read MoreBy henrykcpa
My goal when preparing tax returns is always to bring your tax liability down to the legal minimum. Richard Allen Edgar, on the other hand, cheated the IRS out of $358,000 in tax by selling $1.5 million in phony partnership losses to his clients. He charge a percentage of these losses and the IRS caught him. He was sentenced to 15 months in
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