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What is a Revenue Officer?

What is a Revenue Officer?

What is a Revenue Officer? What is a revenue officer? This is when you owe the IRS, and the IRS has decided to get tough with you. The first step is likely a lien on your property. A levy will follow so the IRS can take your money or your house. This is serious...
IRS Latest Debt Collection Tactics

IRS Latest Debt Collection Tactics

The IRS has hired 80,000 new agents.  Many of these new agents are working collection cases. The new agents are untrained and unsupervised. They do not know or even care about the tax law. They are very good at sending out tax due notices, specifically the...
Why You Should Always Report Your Income

Why You Should Always Report Your Income

We may feel that if we do a cash sale, we really do not have to report it on our income tax return. We may feel the IRS will have no real chance of discovering this sale. While it is agreed that the IRS has many new untrained and unsupervised people in various areas,...
What is Reasonable Compensation for an S Corp? 

What is Reasonable Compensation for an S Corp? 

So, you got tired of being a Schedule C sole proprietor and paying all that self-employment tax! So, you formed an S Corporation and now you have no self-employment tax. You just take draws from the corporation so no self-employment tax. What is wrong here? Have you...