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Month: April 2018

How to reduce the odds of a tax audit

Maryland residents and Americans across the country have an average odds of 1 in 160 of having their tax returns audited. The number increases to 1 in 23 for those who make over $1 million a year. Those who make less than $200,000 have a lower than average chance of...

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How to prepare for an IRS audit

Due to the recent tax reform legislation, companies in Maryland and throughout the country could face a greater IRS audit risk. Some businesses will have had a greater incentive to accelerate deductions in 2017 and defer income to 2018. This could be seen by the IRS...

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What to do after hearing from the IRS

When Maryland residents have their tax returns accepted by the IRS, it doesn't mean that there weren't any errors. In a given year, millions of people will receive a notice from the IRS, and mistakes could lead to an individual paying more to the government. However,...

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