IRS calling; don't worry, maybe it's not an audit

Article Abstract:

Tax audits are less likely today than a decade ago due to tax simplification and an increasing IRS focus on collection. DIF scoring is the term for the IRS process used to separate out returns for auditing. This refers to a system for scoring deviations from a statistical model. Joint criminal investigations, informants and news reports are some of the less scientific methods used to select candidates for auditing. The Taxpayer Compliance Measurement Program is the model used for audits. Those audited have the right to be represented by an attorney.

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Take shelter; enjoying the benefits of pension and profit-sharing plans

Article Abstract:

Pension and profit-sharing plans are the best tax shelters left after all the changes in federal income tax laws. The one disadvantage of this type of tax shelter is annual caps on what percentage of their income employees are allowed to contribute. In general, this cap is set at 15% of total compensation. Possibilities include the simple profit-sharing plan, the age-weighted profit-sharing plan, the integrated profit-sharing plan, the money-purchase pension plan, the target benefit plan and the defined benefit plan.

Taxation, Pension funds, Tax shelters, Profit sharing

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Taxmen on your trail. (giving legal advice to clients facing tax audits)

Article Abstract:

The Internal Service Restructuring and Reform Act of 1998 has targeted many perceived abuses in the tax enforcement system and also contains various tax simplification measures. These include changes in the geographic structure of the IRS, extension of the privilege of taxpayer-lawyer confidentiality, and reductions in the penalties for underpaid taxes. Suggestions for representing a client facing a tax audit are listed as well as for lawyers facing their own audits.

United States, Methods, Interviewing in law practice, Legal interviewing

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