Rental losses Red Flags
If you show income from your job or business and claim rental-property losses, be wary. The IRS rules limit deducting those losses in the current year, unless you prove you’re…
Read moreTax Audit Red Flags
An unexpected letter from the Internal Revenue Service can make your stomach drop, but you can take steps to reduce your audit risk. Taxpayers overall face a low audit risk:…
Read moreInstant Tax Service, Franchisees Accused of Fraud by U.S.
ITS Financial LLC, the Dayton, Ohio-based Instant Tax Service franchiser and franchisees were accused of fraud by the U.S. Justice Department. The department today said it filed federal lawsuits against…
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