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IRS Audit Representation: When Your DuPage Tax Pro Shines
Key TakeawaysThe way you communicate with the IRS can shape the entire outcome of your audit. Filing a Power of Attorney form allows your...
What Documents Are Needed for an IRS Audit: Thinking Outside The Box Law, Inc.’s Insights
Key TakeawaysThe IRS requires three separate forms of proof for nearly every deductible business expense: purchase, payment, and...
How Should DuPage Taxpayers Start Preparing For An Audit?
Quick Takeaways: How Should I Start Preparing For An Audit?Only send copies of the documents the IRS specifically asks for — nothing...
When DuPage Taxpayers Need More Than the IRS Payment Agreement Phone Number
Quick Answers: Reduced IRS staffing could mean longer hold times and even an inability to talk to a real person on the other side of the IRS...
Nonprofit Audit Triggers That Put DuPage Nonprofits at Risk
Quick Answers: The IRS zeroes in on late or inaccurate Form 990 filings, which are the #1 cause of nonprofit audits. Insider benefits...
Will the IRS Really Settle DuPage Owers’ Tax Debt for Pennies on the Dollar?
Quick Answers: Can the IRS Really Settle My Tax Debt for Pennies on the Dollar?The IRS allows certain taxpayers to settle for less than they owe...
Selling Your Business? Moves DuPage Business Owners Can Make to Avoid Tax Traps
Quick Summary: Tax Traps to Avoid When Selling Your Naperville BusinessDepreciation recapture can cost you up to 37 percent in taxes. Deal...
Early Withdrawal Penalties on Your 401(k): Caution to DuPage Taxpayers
Key TakeawaysWithdrawing from your 401(k) or IRA before age 59½ triggers a 10 percent early withdrawal penalty plus regular income tax. A 20K...
What DuPage Taxpayers Can Do When Their IRS Identity Theft Case Is Prolonged
You filed your return. You were expecting a refund, or at least a normal processing timeline. But instead, the IRS flagged your return and sent you...