The Question of Dependency for Exemption

Often times, my clients come to me around February or March, with the April 15th tax deadline looming, asking about exemptions or credits or deductions, and how they can get them. Well by that time, it is too late. With one of the most contentious tax preferences in...

Errors at the IRS are Staggering Says TIGTA

According to the Treasury Inspector General for Tax Administration (TIGTA), the IRS is working to comply to an executive order for reporting requirements. Even though there has been a decline of improper payment for Earned Income Tax Credit (EITC) since the 2003...

Individual Audit Rate is Lower

There’s less chance the IRS will audit you. The 2014 IRS audit rate was at the lowest level in at least 10 years and may drop even further according to the agency. The percentage that an individual’s tax return was examined in person or through the mail fell to 0.86%...