This is a very easy to read article from Forbes Magazine about tax myths. Good reading.
http://www.forbes.com/sites/kellyphillipserb/2012/09/05/eleven-tax-myths-debunked/
IRS correspondence is up 570%!!!!!!
August 28, 2012 by Leave a Comment
According to an article in the Summer edition of the “TaxPro Journal”, “One of my sources at the IRS told me that the Service’s inquiries by correspondence are up 570% from 10 years ago.” I can easily believe that. Our follow up work has dramatically incrased every year as the IRS sends more and more letters and does more and more “letter audits”. It does keep us busy.
The article goes on to say, “I honestly believe, from anecdotal evidence and experience, that 95% of all IRS notices are at least partially wrong.” I wholeheartedly agree with that as well.
I think what bothers me the most is how many people go ahead and pay the balance due the IRS is asking without realizing that most of the time they do not owe the money.
If you do happen to get a letter from the IRS, don’t automatically assume it is accurate. As just stated above, you probably do not owe some, and perhaps, none of the money they are asking for.
TaxMasters slapped with $195M fraud judgment
August 28, 2012 by Leave a Comment
This article illustrates why it is so important to know who you are dealing with. This makes THREE major national tax resolution companies who have been put out of business. We have had several clients who have paid close to $10,000 to these companies come to us after getting NO results from these type of companies. I urge everyone to read this article:
Three (Incredibly Simple) Rules To Keep The IRS Away
August 27, 2012 by Leave a Comment
We all have to pay taxes and no one wants any trouble. Follow these three simple rules and you’ll reduce your chances of grief from the IRS: Read the rules at the link below:
Inaction in Congress could delay tax refunds
August 21, 2012 by Leave a Comment
Inaction in Congress could delay tax refunds
“(Reuters) – Congress could delay billions of dollars in 2013 U.S. tax refunds, dealing a blow to the economy, if it waits too long after the November 6 elections to finalize tax law, a top tax oversight official said.” Read more at the link below:
http://www.reuters.com/
THANKS!
May 28, 2012 by Leave a Comment
It occurred to me that I never thanked those of you who voted for Heritage Income Tax Service as the Best of Portsmouth for 2012. Because of your votes, Heritage won the Gold as the Best of Portsmouth again this year, making it our 5th consecutive year.
MANY THANKS!
Please vote for us:
March 4, 2012 by Leave a Comment
I would greatly appreciate it if you would vote for us (Heritage Income Tax Service) for BEST OF PORTSMOUTH this year. There are 2 ways to vote. You can either:
1. Vote online by clicking on this line!
or
2. Text the code “HPH” to 21333
Better yet, please do both!
You can vote between March 4th and March 20th.
MANY THANKS
BIG changes for those reporting captial gains or losses on their tax returns this year. It is going to be a bit more complicated than ever before.
January 13, 2012 by Leave a Comment
BIG changes for those reporting captial gains or losses on their tax returns this year. It is going to be a bit more complicated than ever before.
According to the National Taxpayer Advocate’s office, “THE IRS IS NOT ADEQUATELY FUNDED TO SERVE TAXPAYERS AND COLLECT TAXES”.
January 11, 2012 by Leave a Comment
Read the entire story here:
•Ralph Kramden on taxes
December 18, 2011 by Leave a Comment
Ralph Kramden on taxes: http://www.youtube.com/
