Wednesday, April 21, 2010

IRS Publishes Cash Audit Techniques Guide

The IRS has published its Cash Audit Techniques Guide to provide guidance for the examination of income in a cash intensive business. This guide will:

Provide background about Cash Intensive Businesses
Identify frequent and/or unique issues
Provide examination techniques
Supply applicable laws and court cases
The complete guide can be found here.

Tuesday, April 20, 2010

Things to Know If You Receive an IRS Notice

IRS advises of tips on notices it sends to taxpayers.  See the IRS Tax Tip 2010-73 here.

IRS Announces Change of Taxpayer Address Procedures

The IRS has issue a new revenue procedure that explains how the Internal Revenue Service is informed of a change of address. When so informed, the IRS will update the taxpayer's address of record to the new address. The IRS uses the taxpayer's address of record for the various documents that are required to be sent to a taxpayer's "last known address" under the Internal Revenue Code and for refunds of overpayments of tax. Rev. Proc. 2001-18, 2001-1 C.B. 708, is superseded by this Revenue Procedure.  Se the Rev. Proc. here.