Chicago Cubs fans will be forgiven if they have fallen into a state of oblivious complacency. All worries vanished when their team finally won the World Series. But that state of tranquility can be smashed in a heartbeat when you receive a letter...

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For many Baby Boomers, the time has arrived to set aside careers and jobs and instead pursue the finer things in life in retirement. Of course, retired life might not always be as smooth as one might like.

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They own Bentleys, Rolexes, jets, islands and luxurious homes in exotic places. They are the ultra rich and they have a lot more stuff than the average person. They even have their own Internal Revenue Service audit squad.

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Few Chicago business owners spend their time thinking about how they could make life easier for the Internal Revenue Service. IRS decision-makers and agents think about it, however. For them, finding ways to get businesses to pay taxes owed is near...

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It is reasonable to expect that a painful experience – and an audit by the Internal Revenue Service can certainly hurt – alters future behavior. Recent research shows that there are surprising differences in the changes in behavior between...

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The odds, the statistics and simple logic are all in your favor. Despite all of that, you might find yourself being audited by the Internal Revenue Service. If you find that you’ve beaten the odds and defied logic and become a statistical anomaly,...

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Hunting season is open. The prey? Tax deductions. Everyone wants to bag some by April 15. Forbes recently ran an article describing some unusual, though wholly legitimate tax deductions. Not all of the deductions will work for all people. In fact,...

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The odds of winning the lottery make it very unlikely that you will ever win millions of dollars with a $2 ticket investment. Very, very unlikely. Yet someone always wins, making ticket purchases more enticing than they have any right to be.

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Doing your taxes is often annoying, confusing and financially painful. Even tax professionals are confused (and probably annoyed) by the process, according to a recent article in Accounting Today.

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In our previous post, we looked at a pair of impending seasons: tax season and audit season. Because the first season leads to the second, Accounting Today recently ran an article to help accountants prepare to help their clients with Internal...

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