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30-Jul-2008 |
| Is tax a problem in your business?
Or is tax something you do not practice in your business as an attorney of consultant (there is an explanation at the bottom of this article explaining the benefits to you).
Is FIN 48 or SOX 404 with the IRS an ongoing tax risk problem?
Its easier to overcome than you think.
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23-Jul-2008 |
| The following link takes you to the IRS website for their Penalties Handbook
http://www.irs.gov/irm/part20/ch01s01.html
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23-Jul-2008 |
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It wasn't too long ago that the IRS was considered a toothless tiger by big companies with smart tax departments, but that began to change several years ago when the IRS adopted a new strategy of brinkmanship, pushing more cases to trial to make examples of corporate defendants. Experts who advise companies in their dealings with the IRS say it's getting harder to reach agreements in each step of the process leading to litigation.
(Source: CFO.com, 2008-07-15).
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23-Jul-2008 |
| A decision expected soon from a federal court might throw the Sarbanes-Oxley Act into limbo. A sideways challenge to the law is before the U.S. Court of Appeals for the District of Columbia Circuit. The question: whether the Public Company Accounting Oversight Board, created by Sarbanes-Oxley to clean up the Enron-tainted auditing profession, is constitutional.
(Source: The Washington Post (free reg. req'd), 2008-07-20).
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23-Jul-2008 |
| Taxpayer Representative Bill of Rights
Prepared by the Federal Taxation Committee, National Society of Accountants Presented to Commissioner's Advisory Group
The following is a work-in-progess draft of the Taxpayer Representative Bill Of Rights as it was presented to the the Commissioner's Advisory Group by the Federal Taxation Committee of the National Society Of Accountants.
NSA was represented at this hearing by Douglas C. Burnette (then NSA President) and William Stevenson, Chair of NSA's Federal Taxation Committee on July 15,1998.
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22-Jul-2008 |
| This is an interesting article forwarded to us for publication. The statistics quoted are accurate. The views are not those of this site, but that of an anonymous contributor. It makes for interesting reading.
ARTICLE COMMENCES HERE...
OK. So let me get this right. SARS boasts the following results in 2007:
69 270 audits
This in practical terms means, for a two man team of auditors to conduct 4 (100hr) audits per month, they had 2886 persons dedicated to this task. These audits would cost SARS roughly R1,03bn in salaries, excluding bonuses!
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21-Jul-2008 |
| Publication Information: Article Title: Legal & Finance: Special Guide to Combat Tax Risks. Newspaper Title: The Birmingham Post. Publication Date: July 9, 2004. Page Number: 22. COPYRIGHT 2004 Birmingham Post & Mail Ltd; COPYRIGHT 2004 Gale Group
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