Dealing with the IRS in .NET

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Summary
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This chapter provided you with some tips on how to coexist peacefully with the IRS. Of course, the best way is to simply avoid the IRS by not doing things that trigger an audit or notice. But if you are the target of one, this chapter has also provided you with a few survival tips. Mathematical errors, missing 1099 forms and schedules, and disproportionately high deductions can make you a more likely audit target. Other factors such as occupation, geography, and luck can also play a part. The IRS conducts three types of audits: correspondence, of ce, and eld. An attorney, an accountant, or an enrolled agent can represent you. It is best to respond to a payroll tax liability notice in writing. If you feel that an error was made, and the agency has not responded to two written communications, ask to be assigned to the Problems Resolution Division. This division is under a time constraint to resolve your matter within 45 days. You can have payroll tax penalties for late ling abated for reasonable cause. It s worth a try unless your company is a habitual late ler.
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Creating Binding Contracts with QuickBooks
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C H A P T E R
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In This
What is a contract Sales of goods under the Uniform Commercial Code The Statute of Frauds
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ontracts are agreements that result in both parties having legal rights and obligations. Most deals go off without a hitch, but not all of them do. QuickBooks provides you with a lot of mechanisms to avoid contract disputes. QuickBooks sales forms can be used to document all the essential terms of a contract. Customer and vendor histories enable you to establish a pattern of prior dealings and performance with the other party.
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Using QuickBooks to avoid disputes over contract terms When the very existence of a contract is challenged Damaged goods and incorrectly lled orders
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What Is a Contract
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A contract is a legally enforceable agreement between two parties. It involves some sort of bargained-for exchange of goods, services, or rights between the parties. Not all agreements create a legally binding contract. The legal requirements for a contract are determined both by the laws passed by your state s legislature and by the common law. The common law is a set of standards developed by courts on a case-by-case basis. Courts are bound to rule consistently with prior cases decided by other courts in the same jurisdiction. A decision in a case that presents facts or legal questions that have not previously been decided sets a precedent to be followed by other courts in the jurisdiction the next time the same issue arises. The common law is made up of precedents.
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562 Part VI Banking and Credit Card Transactions
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Contracts can be either express or implied. Express contracts meet the traditional common-law requirements for formation of a contract. Implied contracts are enforced by the courts in a variety of circumstances where the traditional common-law elements of a contract are not present, based on the conduct of the parties.
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Elements of an express contract
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All jurisdictions have well-established common-law precedents to determine whether a contract exists. Courts usually look for three elements: offer, acceptance, and consideration. If all three of these elements are readily ascertainable, the contract is considered an express contract. Express contracts may be either written or oral.
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Offer and acceptance
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An offer is an invitation to enter into an agreement. It gives the offeree the power to create a legally binding contract by accepting it. For example, if I offer to sell you my automobile for $5,000 and you accept the offer, a binding contract is created. But what if I advertise that the auto is for sale and do not specify a price, and you offer to pay me $5,000 Our roles are reversed, but a contract may still be formed. You, the buyer, are now the offeror and I am the offeree, and I can indicate my acceptance of your offer to purchase.
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