In order for the Internal Revenue Service (IRS) to determine whether a taxpayer is entitled to a reduction in their federal tax burden by way of an Offer in Compromise based on doubt as to collectability, the taxpayer’s future income must be determined. How future income is calculated is essentially an estimate made by the
Blog
Taxpayer Advocate Service
The Taxpayer Advocate Service (TAS) is an organization that operates independently within the Internal Revenue Service (IRS), and exists in order to assist taxpayers experiencing “economic harm.” The IRS defines “economic harm” as a situation where someone is incapable of providing basic necessities for themselves, including housing, food, or transportation. Internal Revenue Service, The Taxpayer
Tax Gap
The tax gap is the Internal Revenue Services (IRS) approximation of the total amount of taxes outstanding. The calculation of this figure is a massive endeavor and only occurs every five years or so. As of 2006, the voluntary compliance rate through the U.S. was relatively unchanged at approximately 83%. Internal Revenue Service, The Tax
Understanding an IRS Audit
An IRS audit is a review of a business or individual’s tax return to ensure that everything was reported correctly in compliance with applicable tax laws. By law, the taxpayer is only required to pay the exact amount of tax owed, no less and no more. Consequently, if a taxpayer incorrectly reports his or her
Identity Theft and the IRS
Many people are aware of the many pitfalls of identity theft, including the potential credit implications, the hassle of getting new cards and information, and the lackluster financial history with which an identity theft victim is sometimes associated. Yet identify theft also has federal tax implications, namely when it comes to reported income and tax
Franchise Tax Board Audits
The Franchise Tax Board of California (FTB) is like any taxing entity in that it ensures taxpayers compliance through the use of audits. An FTB audit is a formal inspection of your books and records in connection with your personal or business tax returns. The purpose of an audit is to ensure that you as
Hiring a Tax Attorney
Most people think they do not need to hire a tax attorney because they do not have a complex return or tax issue. They have a bookkeeper, accountant or CPA that handles all of their tax filings and answers all of their tax questions. They believe that attorneys are expensive and, in this difficult economy,
IRS Income Tax Audits Explained
IRS Income Tax Audits IRS income tax audits explained. An income tax audit is an examination of a tax return. Depending on the nature and scope of the audit, an IRS examiner may look at just a few items on your return or they may look at your return in its entirety. If they determine
Case Review: Gray v. Commissioner
Introduction The majority of taxpayers want to appeal a tax decision in Tax Court. Tax Court is the preferable venue because the taxpayer-petitioner does not have to pay the tax in full before litigating the matter. If the taxpayer appeals a decision to district court, he or she has to pay the liability in full
History of RJS Law
RJS Law was founded in 2003 by attorney Ronson J. Shamoun. RJS Law has become one of the most honest, ethical and trustworthy tax attorneys in San Diego and California. Having graduated from USD with his Juris Doctor and LLM in Taxation, he noticed that San Diego and California was lacking an appealing resource for