Owens Tax Advisors regularly present and provide public comment on topical tax matters.
Our principal, Jeff Owens is also an accomplished and popular public speaker on tax matters. If you would like to arrange for Jeff to comment on or prepare and present a lively discussion on topical tax matters, please contact us.
Owens Tax Advisors continues to deal with significant numbers of IRD reviews and audits of taxpayers who IRD allege haven’t returned all their cash income.
This is especially relevant if you or your clients are operating businesses in:
- Otherwise having material cash transactions
IRD has multiple sources of income that lead them to review and audit high risk industries, especially those that handle a lot of cash.
In this article we summarise key issues and how to handle them.
Read on “How to handle IRD risk reviews and audits re undisclosed cash income”
We recommend that taxpayers change all personal contact details to those of their tax agent or other authorised representatives. This includes postal address email and telephone numbers.
If IRD manages to contact you directly, you should take full details and lodge a formal complaint to the commissioner, and cc your agent.
Read on “IRD contacting taxpayers directly”
Tax agents and intermediaries report ongoing frustration that IRD communicates directly with clients, undermining relationships to the detriment of the NZ tax system. The following article comments on the issues.
Coincidentally Radio NZ ran a related item on Monday 28 May – see here
See responses to this article here
Read on “IRD undermining relationships with taxpayers and their representatives”
The following article was written for and published by Accountancy Insurance in their Autumn 2017 newsletter and in due course will also be available from their website, www.accountancyinsurance.co.nz/publications/newsletters.
The article discusses IRD review and audit activity, penalties, and the benefits and process for voluntary disclosures of shortfalls.
March 2017: Tax and the ‘hidden economy’
IRD has now fixed all the problems with its policy for communicating with stakeholders by email.
The official policy is at http://www.ird.govt.nz/taxagents/working/comms-email/.
Read on “IRD’s email policy fixed!”
IRD has an ever increasing focus on audit activity including the so-called “hidden economy”.
In this article we comment on IRD’s current areas of interest, some challenges with IRD’s approach, and how you should respond.
We have also announced a new service that provides client structural and land transaction information in a user-friendly format.
Read on “IRD audit activity – July 2016 update”