Traditionally, the IRS subjects large corporate taxpayers to nearly continuous audits of their tax returns. In recent years however, IRS funding has been substantially reduced, making this strategy unsustainable. As a response, the agency is creating new approaches to how it audits businesses – and companies need to prepare. As part of its new approach…
The Internal Revenue Service believes the small business sector is a major source of under-reported income. For the past four years, the agency has run a special independent office charged with finding how to encourage small business owners to report their earnings more accurately. The IRS finds sole proprietors especially challenging. Many operate on a…
The biggest news in markets across the world was the British vote to pull out of the European Union after some 43 years as a participant in the EU (and the former Common Market). It’s estimated that global markets lost the equivalent of $2 trillion in value on June 24, when the results of the…
Being an acknowledged leader and innovator in social media doesn’t provide immunity from cyber attacks. It has been reported that Mark Zuckerberg, head of Facebook, recently experienced hacking of both his Twitter and LinkedIn accounts. Cyber thieves continue to up their game, and regardless of whether you are a high-profile billionaire or an ordinary citizen,…
