Monthly Archives: July 2010

Case Study: IRS Jumps On Car Deductions

Wendi Collier, our internal tax attorney, reports tough results of an actual IRS audit. [This is important because IRS has announced a program to look at owner deductions like meals, travel, auto, etc.] The auditor demanded to see copy of … Continue reading

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Ortho & Wife Guilty Of Not Paying P/R Taxes – Face up to 5 Years and $250,000!

Allen Schiff, CPA and Certified Fraud Examiner is our ADCPA Member in Baltimore, MD. He brought this story to our attention. The couple failed to file quarterly payroll employment tax returns from 2001-2005. Total loss in tax revenue is about … Continue reading

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Closing Date for Home Buyer Credit Extended to 10/1/2010.

For homes under contract prior to 5/1/10, you initially had to close on the purchase by 6/30/10.  This closing date has been extended to 10/1/10 due to backlogs at lenders.

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