How IRS scores your income tax returns for audit Part 2

(Part 2 – Master Files) LAST week we discussed how tax returns are received, verified, and reviewed for completeness. Let’s now discuss the second of a three-part series on how your tax returns are stored into master files. – How efiled and paper-filed tax returns are verified, validated, and reviewed for accuracy. – How tax…

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Are you sinking deeper into debt every month?

TOUGH financial times are pushing strapped consumers over the edge. Delinquencies and balances on delinquent credit cards are on the rise with no signs of slowing down. Faced with layoffs and difficult economic times, a lot of people are resorting to use of their credit cards in order to pay for basic living expenses such…

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Brushing up on toothbrushes

YOU may have heard that you should replace your toothbrush (or toothbrush head, if you use an electric toothbrush) every three months, or at the beginning of each new season.  But are there other times you should replace your brush?  Yes!  Replace your toothbrush after a cold or flu, to avoid re-infecting yourself, and ,…

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How the IRS scores your income tax returns for audit

LET’S now discuss the last of three articles: How the IRS scores tax returns for audit. The higher the score, the more likelihood that you’ll be chosen for audit. 1. Scoring System: The IRS uses a Discriminant Function System (DIF) to determine returns that are most likely to generate additional revenue for the government. Although…

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When employer retaliation happens to law-abiding employees

THE Los Angeles Times reports that in 2010, eleven officers of the Los Angeles Police Department’s traffic department assigned to the motorcycle unit, sued the city of Los Angeles, claiming that they suffered retaliation because they refused to follow the traffic ticket quota system secretly set by their supervisors. In California, ticket quotas are considered…

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Don’t retire broke: Get out of debt now

WARNING: If you are concerned about not having enough money to live on by the time you retire, you may find the following totally shocking: According to the Social Security Administration, if you took any 100 people at the start of their working careers and follow them for 40 years until they reach retirement age,…

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Asian Business Association SB 1000

ASIAN-Americans living, working and attending school in California should be a major force to be reckoned with in terms of its collective purchasing power and intellectual power. As a community, Asian-owned businesses continue to be one of the strongest segments of California’s economy. According to the latest census data, the number of U.S. businesses owned…

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The many disguises of wage theft

(Are you paid for all hours worked?) THE cheer squad for the Oakland Raiders, the Raiderettes, recently sued their employer for back wages and reimbursements. The lawsuit claims that the football team withholds pay from the employees until after the football season is finished and does not pay for hours worked outside the games. The…

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Pregnant? Let’s keep both your mouth and your baby healthy

Are you pregnant or thinking about becoming pregnant? Do you know someone who is pregnant? While you’re picking out tiny clothes and reading childcare books, remember the importance of your oral health! Pregnancy brings so many physical changes. You crave different things. Your hair feels different. In fact, just about everything feels different. And, your mouth is…

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How do you file if you are missing a W-2?

YOU should have received Form W-2 (Wage and Tax Statement) from your employer by now. If you did not, here are 10 tips to help you file: 1. Employers have until January 31 to furnish your W-2. 2. If you have not yet received your Form W-2, ask your employer when the W-2 was mailed….

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When is an employment termination illegal?

(Unfair does not mean Unlawful) Q: I WORKED in a company for more than 10 years. A new supervisor was recently transferred to my department. This person and I do not get along. Last week, our human resources director informed me that the company was letting me go and gave me my last paycheck. I…

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