Contractors face a higher risk of IRS scrutiny. Organizing records, analyzing discrepancies, and professional representation are key to a favorable outcome.

WASHINGTON, DC - AUGUST 18: The Internal Revenue Service (IRS) building on Thursday, Aug. 18, 2022 in Washington, DC. (Kent Nishimura / Los Angeles Times via Getty Images) The Senate has officially ...

While IRS tax audits are rare, some filers worry their returns could be picked for examination. You can avoid future issues by keeping receipts and other records to support your claims, experts say.

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At the same time, the audit rate for those making under $500,000 declined slightly in 2024, fulfilling a promise by the Biden administration. By Ben Blatt It was a promise repeated many times by ...

Imagine getting a letter in the mail stating you owe someone $98,000. Now imagine that someone is the Internal Revenue Service. Just the mere utterance of the letters “IRS” will give business owners ...

THE PASSAGE OF SARBANES-OXLEY LEFT MANY TAX practitioners wondering where they fit in under these new rules. The act did not list most tax services as one of the prohibited nonaudit services but said ...

As millions of taxpayers file returns, many worry that certain claims could boost their chances of being picked for an IRS audit. Regardless of your income, you shouldn't round numbers or estimate ...