On behalf of Goldburd McCone LLP | Nov 25, 2019 | Criminal Tax Issues, Tax Audits
A federal tax audit can involve a thorough review of one’s tax filings. The exact period of time the Internal Revenue Service (IRS) can “look back” through tax records is generally three years. But, like everything with taxes, the answer is not always as clear as we...
On behalf of Goldburd McCone LLP | Sep 26, 2019 | Tax Audits, Tax Collection
New Yorkers have voiced concern the new tax law would have a negative effect on real estate transactions within the state. More specifically, a provision within the Tax Cuts and Jobs Act (TCJA) capped the amount of state and local taxes taxpayers could deduct on their...
On behalf of Goldburd McCone LLP | Jun 12, 2019 | Firm News, Tax Audits
The Tax Cuts and Jobs Act (TCJA) has led to many changes in tax law. We are just starting to experience the full impact of these changes, as many of the new provisions went into effect for the recent tax filing for the 2018 tax year. One specific impact tax experts...
On behalf of Goldburd McCone LLP | May 31, 2019 | Firm News, Tax Audits
The Internal Revenue Service (IRS) or the New York Department of Taxation and Finance may send business owners a letter requesting additional information to support tax returns. When this happens, an organized set of records can help to better ensure the process goes...
On behalf of Goldburd McCone LLP | Mar 20, 2019 | Tax Audits
Filing tax returns is difficult and often stressful. Arguably, the only thing even more stressful is getting contacted by the Internal Revenue Service (IRS) or New York Department of Taxation and Finance with questions about your return. How will these agencies...
On behalf of Goldburd McCone LLP | Feb 28, 2019 | Tax Audits
Individuals, businesses and even state governments felt the impact of the recession in recent years. States throughout the country, including New York, reported weak gains in tax revenue growth for the last two years. State government finally appear to be rebounding....
On behalf of Goldburd McCone LLP | Feb 26, 2019 | Tax Audits
A business or individual will likely experience frustration after receiving a notification from the New York State Department of Taxation and Finance of an impending state tax audit. One thing that can top this frustration: notification of a second audit. How often...
On behalf of Goldburd McCone LLP | Jan 30, 2019 | Tax Audits
Business owners subjected to a sales tax audit can take proactive steps to ease the process. Some tips that apply to most in this situation include: Cooperate. A recent publication in the CPA Practice Advisor notes a top mistake made during a sales tax audit is giving...
On behalf of Goldburd McCone LLP | Nov 16, 2018 | Tax Audits
Technological advances can increase efficiency. One of the most recent examples is the internet. At first, the public and the government were unsure of how to use the internet. After some time, the internet became an integral part of our daily lives and government...
On behalf of Goldburd McCone LLP | Sep 27, 2018 | Tax Audits
You have likely heard the adage “innocent until proven guilty.” Although this holds true in most criminal cases, it does not apply to investigations by the Internal Revenue Service (IRS). How are investigations by the IRS different? Taxpayers generally...
