Badges of Fraud
IRS employees are trained to look for “badges of fraud” IRM 25:1.2.3 (04-24-2014) while carrying out their functions as revenue or collection agents. These badges include, but are not limited to, the following items: Omitted sources of income Fictitious or...
IRS Releases Scam Phone Call Alert
I was recently contacted via telephone by a man with a Middle Eastern accent who told me he was with the IRS. He claimed I owed income taxes and stated that if I did not send him money he would send IRS Agents to have me arrested. When I asked how much I owed he said,...
Consumer Fraud
As people lead their lives during this era of Covid-19, fraudulent activities perpetrated against the public continues. The simple task of selling furniture on OfferUp can cause an individual to be drawn into the web of the fraudster. Also, today individuals’ use...
During the COVID-19 Pandemic, Fraudulent Activities Become Evident
With isolation caused by the Coronavirus pandemic, businesses will discover fraudulent activities. Owners will look at the activities of their business, the company books, bank accounts, the decrease in sales, and the increase in inventory and realize it all does not...
The Importance of Maintaining Proper Records for the IRS
The Internal Revenue Code requires businesses to maintain records of their activities including invoices for services rendered, bank records and invoices for expenditures made for business purposes. It is also wise to have a system of accounting, a spreadsheet with...
To Follow Money, Books and Records Are Needed
Any financial investigation, specifically income tax (civil or criminal), partnership embezzlement, and divorce, require books and records to be successful in tracing expenses and following the money. Without them the chances of success are diminished. In...
Taxpayer Decision… Auditor or Special Agent
We read in the newspaper that the number of audits is down to less than 1%. In the Kiplinger article dated April 30, 2014, the Commissioner of the Internal Revenue Service (IRS) advised the agency will perform 100,000 or fewer audits this year. The odds...
Dealing with the Internal Revenue Service for Preparers and Taxpayers
The Tax Cuts and Jobs Act of 2017 (Public Law 115-97) modified the child tax credit (CTC) to provide a nonrefundable credit for qualifying dependents other than children (ODC) and amended Section 6695(g) to add due diligence requirements to cover eligibility to file...
Due Diligence Helps Manage Risk
What is due diligence? (1) The care that a reasonable person exercises to avoid harm to their person, finances or that of another person. [1] (2) The process of obtaining and evaluating details about the subject, entity, or investment opportunity before making a...
Important Considerations When Hiring a Forensic Accountant
Forensic accounting combines accounting and investigative skills, knowledge, education, experience, and training which is perfect for firms offering litigation support and investigative accounting. This expertise is obtained by individuals with specialized training,...
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Free Consultation
Please fill out the form below and we will contact you shortly or call our office at 512-659-3179.
Badges of Fraud
IRS employees are trained to look for “badges of fraud” IRM 25:1.2.3 (04-24-2014) while carrying out their functions as revenue or collection agents. These badges include, but are not limited to, the following items: Omitted sources of income Fictitious or...
IRS Releases Scam Phone Call Alert
I was recently contacted via telephone by a man with a Middle Eastern accent who told me he was with the IRS. He claimed I owed income taxes and stated that if I did not send him money he would send IRS Agents to have me arrested. When I asked how much I owed he said,...
Consumer Fraud
As people lead their lives during this era of Covid-19, fraudulent activities perpetrated against the public continues. The simple task of selling furniture on OfferUp can cause an individual to be drawn into the web of the fraudster. Also, today individuals’ use...
During the COVID-19 Pandemic, Fraudulent Activities Become Evident
With isolation caused by the Coronavirus pandemic, businesses will discover fraudulent activities. Owners will look at the activities of their business, the company books, bank accounts, the decrease in sales, and the increase in inventory and realize it all does not...
The Importance of Maintaining Proper Records for the IRS
The Internal Revenue Code requires businesses to maintain records of their activities including invoices for services rendered, bank records and invoices for expenditures made for business purposes. It is also wise to have a system of accounting, a spreadsheet with...
To Follow Money, Books and Records Are Needed
Any financial investigation, specifically income tax (civil or criminal), partnership embezzlement, and divorce, require books and records to be successful in tracing expenses and following the money. Without them the chances of success are diminished. In...
Taxpayer Decision… Auditor or Special Agent
We read in the newspaper that the number of audits is down to less than 1%. In the Kiplinger article dated April 30, 2014, the Commissioner of the Internal Revenue Service (IRS) advised the agency will perform 100,000 or fewer audits this year. The odds...
Dealing with the Internal Revenue Service for Preparers and Taxpayers
The Tax Cuts and Jobs Act of 2017 (Public Law 115-97) modified the child tax credit (CTC) to provide a nonrefundable credit for qualifying dependents other than children (ODC) and amended Section 6695(g) to add due diligence requirements to cover eligibility to file...
Due Diligence Helps Manage Risk
What is due diligence? (1) The care that a reasonable person exercises to avoid harm to their person, finances or that of another person. [1] (2) The process of obtaining and evaluating details about the subject, entity, or investment opportunity before making a...
Important Considerations When Hiring a Forensic Accountant
Forensic accounting combines accounting and investigative skills, knowledge, education, experience, and training which is perfect for firms offering litigation support and investigative accounting. This expertise is obtained by individuals with specialized training,...
