I am a professional woman in the so-called ‘man’s’ profession and after over 14 years in accounting and audit, ventured out into my very own business. Faster I discuss accountants, my focus may be the entrepreneur or professional running their own home based business. When I started my own business, I no aim of following group of dead and I still will not. But, I truly believe that we as accountants are being threatened in her own profession.
The IRS must assess at least 240 days before the taxpayer files for personal bankruptcy. The IRS assessment may arise from a self-reported balance due, an IRS final determination inside auditing management application, as well as IRS proposed assessment offers become finishing.
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Do your own favor and prevent being audited by through a few actions. You are exactly in danger if happen to be a cash only business, law office, construction and small store owner.