Author Archives: WendyLitten

New Jersey Where’s My Refund Now Available

Posted on March 6, 2012 by

New Jersey has added online and phone-based tools to check the status of your NJ tax refund. If you know your refund amount, enter it online along with your Social Security Number to get the status of your mailed or … Continue reading →

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$31,185 in Income Tax Refunds for NJ Residents Expiring

Posted on February 24, 2012 by

The IRS released figures that show that 8,000 New Jersey taxpayers have not claimed $31,185 in Federal tax refunds due on 2008 tax returns. The average refund is $716. The deadline for filing to receive these refunds is April 17, … Continue reading →

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How an IRS Audit Starts

Posted on February 8, 2012 by

An IRS Audit is a review of an individual’s or business’ accounts and financial information to ensure they are complying with tax laws and paying the correct amount of taxes. The IRS is focused on collection issues and selects tax … Continue reading →

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New Free Online Offer in Compromise Calculator

Posted on January 14, 2012 by

We’re pleased to announce the release of a free online Offer in Compromise Calculator. While the calculations for an Offer in Compromise can be complex, this online version is a great starting point for taxpayers when deciding on a solution … Continue reading →

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2012 Small Business Calendar Available

Posted on December 13, 2011 by

Order the IRS Small Business Calendar and keep track of important tax and payroll dates. Did I mention that it’s free? Completely free and very handy to have around the office. I keep a few on hand to give to … Continue reading →

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Don’t go to your Income Tax Audit!

Posted on December 4, 2011 by

Really. I don’t recommend it. When it is your tax return and your money at stake, emotions can run high, and it’s easy to make a mistake. The IRS agent will ask you questions that you may not want to … Continue reading →

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Good News – Business Cell Phone Tax Deduction

Posted on September 24, 2011 by

We love good news that makes tax record-keeping easier! If  your employees use cell phones for business, the rules for deducting the expense have gotten much easier. Previously, a cell phone was considered by the IRS to be “listed property,” … Continue reading →

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Has the IRS Contacted Your Business Associates?

Posted on August 17, 2011 by

Has the IRS has contacted your business associates or other third parties? Normally, if you are subject to an audit, the IRS must contact you to let you know that they will be doing checking with others about you.  They … Continue reading →

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Why Am I Being Audited?

Posted on August 7, 2011 by

Wondering how you got chosen to be audited by the IRS? There are several avenues that may lead to the dreaded IRS examination. If you omit income that was reported to the IRS, their computers will pop-up and send you … Continue reading →

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Beware the IRS Mistake in Your Favor

Posted on May 26, 2011 by

According to the National Association of Tax Preparers newsletter, the IRS is issuing refund checks to certain taxpayers …. by mistake! I wouldn’t cash that check you receive (without checking with me or another tax preparer) if the letter that … Continue reading →

Posted in Business Taxes and Accounting, S-Corp Taxes, Schedule C Tax Returns | Leave a comment