IRS Red Flags
Curious on just how far you can take it? Listed below are some of the more common red flags that may bring attention to your tax return: Failing to sign your return Failing to attached W-2 copies to your return […]
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Choosing a Tax Problem Service Provider
Can You Do It Settle Your Tax Problem Yourself? Most people try to resolve tax problems on their own or with the help of their tax preparer. They think that a tax attorney is too expensive, they can save money […]
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The Real Cost of Tax Preparation
A really funny thing happened to me today in a tax audit. I’m a CPA who does much of his work solving IRS problems most any day of the week. Our firm represents taxpayers with tax problems before the IRS […]
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The Self Employment (Schedule C) IRS Tax Audit
The Self Employment (Schedule C) Tax Audit is the examination of tax returns of self-employed taxpayers. These audits are not restricted to taxpayers whose only income is from self employment. These audits or examinations include audits of tax returns of […]
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How the IRS Picks Who Gets Audited?
So just how does the IRS pick who’s going to get audited? Well, there’s a few more common ways. Computer Scoring Tax returns are “scored” using two different systems – Discriminant Function System (DIF) and Unreported Income Discriminant Function System […]
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IRS Audits and QuickBooks Users
Companies using QuickBooks, Peachtree or other popular accounting software have greater risk in IRS audits, or IRS examinations than ever before. Previous IRS Examination Procedures Previous to new IRS procedures, IRS examinations of Company records would generally be limited to […]
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New IRS Payroll Tax Audits
The Internal Revenue Service (IRS) has recently begun a 3-year National Research Program to randomly select and intensely audit approximately 6,000 companies to focus on employment tax issues to include review of independent contractor status, executive compensation, fringe benefits and […]
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IRS Tax Audits by Mail Are Up 400%
You’re now almost four times as likely to conduct your tax audit by mail, as you are to sit down with the tax man. More than 1.6 million Americans who were slapped with audits last year, 78% dealt with correspondence […]
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Nine (9) Considerations in IRS Audits for Self-Employed Taxpayers
The IRS has targeted self-employed (Schedule C) taxpayers for audits for good reason. The IRS believes that many Schedule C filers do not report all of their income and/or overstate their business deductions. In addition, many Schedule C filers do […]
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