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Warning Signs of Client Identity Theft-Based Tax Fraud: Overview             In this lesson, we’ll look at some warning signs of client identity theft-based tax fraud. Because tax professionals are on the ‘front lines’ of tax administration, practitioners must become adept at recognizing the early warning signs of client identity theft-based tax fraud. It is very

IRS Security Awareness Tax Tip Number 10: Overview             In this lesson, we’ll look at IRS Security Tax Tip Number 10, which was released in January of 2016. Many Security Awareness Tax Tips released by the Internal Revenue Service are aimed at both taxpayers and practitioners. However, IRS Security Awareness Tax Tip Number 10 is

Tax Treatment of Income Related to Medical Expenses: Overview             In this lesson, we examine the tax treatment of income related to medical expenses of a taxpayer. Although a taxpayer may receive some sort of income related to his or her medical condition in any number of ways, this lesson will focus on three main

IRS Fast Track Mediation: Overview Fast Track Mediation: Who Qualifies for Fast Track Mediation?             This lesson examines the IRS fast track mediation services that may be available to a taxpayer during an audit. The Internal Revenue Service offers fast track mediation services to assist taxpayers in resolving many different types

Key Liquidity Ratios: Overview             This lesson will describe the calculations used to perform three key liquidity ratios: the current ratio, the quick ratio, and the cash ratio. The most commonly-calculated liquidity ratio is known as the current ratio. The current ratio measures an organization’s ability to meet short-term obligations. Typically, a current ratio result

References for a Job Interview: Overview             In this lesson, we’ll talk about some ways to develop references for a job interview. Let’s start by looking at some good people to consider when developing references for a job interview: Former bosses, co-workers, customers, vendors, college professors, landlords, managers of your volunteer work, and colleagues all

Canceled Debt Related to a Repossession or Foreclosure: Overview             In this lesson, we’ll look at the taxation rules for canceled debt related to a repossession or foreclosure. When a taxpayer cannot (or does not) maintain payments on a loan secured by property, the lender may repossess the property or foreclose on the loan. Even

Prove a Casualty or Theft Loss to the IRS: Overview             In this lesson, we’ll take a look at the ways that a taxpayer can prove a casualty or theft loss to the IRS for deductible casualty or theft losses. In order to deduct a casualty or theft loss, a taxpayer must be able to