by somichcpa | Dec 13, 2019 | Individual Taxes, Tax Tips
One way to head off fraud during tax season is to get your free annual credit report now. Credit reports often have errors in them; this quick checkup can be the first indication that some form of identity theft has taken place on your account. The good news is that...
by somichcpa | Oct 24, 2019 | Uncategorized
Each year the IRS opens thousands of investigations looking for possible tax fraud. In 2017 alone, the Criminal Investigation (CI) arm of the IRS identified $2.5 billion in potential tax fraud with a 91.5 percent conviction rate. While the IRS takes tax fraud...
by somichcpa | Oct 11, 2019 | Financial Planning, Individual Taxes
According to Credit Karma, over $40 BILLION of unclaimed property is currently being held by state governments. That’s a staggering amount of money — enough to buy half of the National Football League franchises. Not included in that figure is property sitting...
by somichcpa | Oct 1, 2019 | Financial Planning, Individual Taxes, Uncategorized
With the school year underway, suddenly the realization sets in that graduation isn’t too far away for high school seniors. Here are five things each graduate should understand before their big graduation day: Debt needs to be managed carefully.It is way too...
by somichcpa | Sep 26, 2019 | Individual Taxes, Tax Tips
Each year, the IRS audits over 1 million tax returns. With agency resources shrinking, the IRS is more selective when choosing tax returns to audit. Knowing what the IRS is looking for can help you understand and reduce your audit risk. Here are five of the biggest...
