Tax Stats: June 2012
Our monthly collection of statistics from the world of tax
Our second tax stat for June shows why so much effort at the IRS is going into automated systems -- they bring in more money.
Systems, it seems, are more efficient than people: IRS field audits yield by far the lowest ROI. So it's a good thing the service did only 525,000 of them (for 1040s only), compared to 1.2 million mail audits, and 4.7 million CP 2000 notices.
Automated matching systems at the IRS send out millions of notices of underpayment to taxpayers, and add $6.5 billion annually to the U.S. Treasury -- but they're not as scary as they seem: Fully a third of notices result in no additional tax.
Leaders in the field pick their favorite efficiency-enhancers
7 questions to help protect your business clients
Every year, Xero recognizes app, bookkeeping and accounting partners that have performed well the previous year. These are the 2016 award winners.
Consultants Tamera Loerzel and Jennifer Wilson of ConvergenceCoaching answer tough HR questions.
With the start of school just around the corner, taxpayers should be aware of the following tax breaks and deductions available for qualifying expenses, according to the audit defense service TaxAudit.com.
Once they stop being Bride- and Groomzillas, new couples need tax advice
Summer is well underway, and now is a great time to help your clients and their dependents with the tax tips in this slideshow written by Michael Sonnenblick of Thomson Reuters Checkpoint.
Tips on how to make working at home pay, from the Illinois CPA Society
The IRS shares some advice on fixing a return
Some of our favorite examples of professionals breaking bad