IRS Audits

What Are Your Odds Of Being Audited By The IRS?

It´s late March, so forgive me if I come off as a bit harsh, but do you know the old saying, "there are no stupid questions?" In fact, there [...]

How to Avoid an IRS Audit

Getting audited is every taxpayer's nightmare, but rest assured: your chances of being singled out for an audit are slim. According to the IRS, [...]

On Tax Returns, Don’t Forget Form 1099 Traps

In the IRS’s quest for better and more automated matching of income and Social Security numbers, it’s well known that IRS Forms 1099 are important. See [...]

Three Simple Rules To Stay Off IRS Radar

If you don’t want to wind up in a tax dispute do everything you can to avoid an audit. No matter how secure you feel in your tax positions, you [...]

GAO: IRS Could Significantly Increase Revenues by Better Targeting Enforcement Resources

The Government Accountability Office has released IRS Could Significantly Increase Revenues by Better Targeting Enforcement Resources:(GAO-13-151): The IRS [...]

U.S. IRS wields summons to pry info out of wealthy, companies

Taxpayers push back, increasing summons litigation Collections agency trying to speed investigations WASHINGTON, Aug 17 (Reuters) - The U.S. Internal Revenue [...]

Does Going On Return Filing Extension Increase IRS Audit Risk?

Audit risk is a worrisome topic. See More IRS Audits Coming Your Way. This tax filing season you have a precious few more hours to file, until the end of [...]

IRS Audit Rate Nears 30% for Those Making $10 Million and Up

The Internal Revenue Service in 2011 audited 29.93 percent of taxpayers who reported more than $10 million of income, according to statistics released [...]

What Tax Records to Keep and For How Long

When organizing your files, please remember these general rules concerning your records: Income Tax Returns and Related Items: Keep all federal and state [...]

IRS on autopilot

NEW YORK (CNNMoney) -- The IRS is discovering vastly more mistakes on tax returns than it used to. In 2010, it flagged 10.6 million math and clerical [...]