IRS Stepping up Audits
I expect to see a significant increase in the number of audits by the IRS. The trend has been upward for several years now and I expect that to continue. As I have previously stated, one of the primary areas of interest by the IRS is Schedule C businesses. The IRS is in the process of […]
FIRST TIME HOMEBUYER’S CREDIT EXTENDED
The much used first time homebuyer’s tax credit has received congressional approval and has just been signed by the President . The measure was included in H.R. 3548, extension of unemployment benefits. According to the National Association of Realtors, as many as 1.2 million new and resale home transactions were completed as a result of the first time […]