According to the GAO (Government Accountability Office) the IRS (Internal Revenue Service) will request a budget increase to help replace budget cuts over the last 5 years as well as to account for the additional workload that has been recently created through legislative changes, such as Obamacare. What does this mean for business owners and tax payers? Look forward to an increase in IRS audits and compliance checks as well as increased enforcement of liens, levies and garnishments. Taxpayers with prior tax issues should work diligently and fervently with a tax professional to get to a tax resolution on any outstanding issues with all of the various taxing authorities. If you would like more information from the GAO and this study, click here: http://www.gao.gov/products/GAO-14-534R.
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Love and Associates, Inc is a tax resolution, tax preparation and tax planning company located in San Diego, Ca with clients all over the world. They offer support for small to medium size businesses as well as solutions for those with tax problems and burdens.
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