Audit defense involves the presentation and justifying the evidence of one's financial returns after receiving an audit report from the Internal Revenue Service (IRS). It happens after the IRS notifies you to provide more information to verify the accuracy of your...
Before the days of online shopping, it was much easier to determine the applicability of local sales tax requirements. Now that purchasing over the internet is ubiquitous, a more careful analysis is required to determine if your business is subject to Massachusetts...
For whatever reason, you may find yourself facing IRS criminal investigation, a civil investigation or an audit that could end up as a criminal investigation. You could be accused of tax evasion or any other type of tax crime. It is surprisingly easy to find yourself...
Some taxpayers seek the services of third parties to file their returns. However, sometimes these third parties may make mistakes while filing such taxes. If someone else files your taxes and makes mistakes, you can be liable for such errors or omissions. These errors...
A business tax audit is an examination of relevant records and documents related to the business. An audit is primarily done by the IRS to ensure that business transactions are correctly reported or identify cases of fraud and errors. What is the purpose of a...
There have been many changes in how people and businesses operate because of the pandemic. One of the biggest changes to the status quo was seen in the Massachusetts state of emergency declaration on March 10th, 2021. As a result, there was the passing of...
A $1T infrastructure bill will ultimately lead to two significant changes in the largely unregulated cryptocurrency industry. First, an as-yet indefinite group of people will be required to begin reporting cryptocurrency-related activity and income. And second, the...
Finding ways to avoid sales tax may seem like a smart way to save money, but a decrease in Massachusetts tax revenues makes state costs increasingly difficult to manage. These costs include things like road fixes and public school funding. Consumers buying...
While federal taxes take the largest bite out of most taxpayers' income, it's also important to remember that state taxes are also an important consideration for Massachusetts taxpayers. Just like with federal taxes, penalties and interest levied against late...
It's no secret that the U.S. tax system is complicated and confusing to the average taxpayer. This is why, every day, thousands of taxpayers open their mailboxes to find the much-dreaded IRS Notice. You've received a notice from the IRS; What to do next? First, don't...
