Q. I just received an IRS deficiency notice about “other income” in 2005. Looking back, the firm should have listed this amount on the 1099 as “nonemployee compensation,” which is how I reported it on my return. Do I have a problem?
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The IRS has announced it’s stepping up audit efforts with a renewed emphasis on examining returns of small business entities. Watch out for these five danger signs that could lead to IRS inquiries.
Any time alcohol is available at holiday parties, the potential for employee misbehavior increases. Obviously, not serving alcohol at the party would likely solve that problem. But many employers still opt for cocktails. So, if your organization plans to serve alcohol at this year's party, limit it by utilizing the following tactics.