To claim that the Internal Revenue Service continues to have an image problem is an understatement. From wage garnishment to criminal prosecution, the nation's tax agency is best known for their enforcement actions.Nina Olson of the National Taxpayer Advocate believes...
Completing your federal income taxes is a monumental event that brings a sigh of relief. However, any euphoria over the annual accomplishment quickly dissipates with a common nagging fear: an audit.While there is no perfect recipe to avoid an audit, there are red...
If someone gets audited, your immediately assumption would be that the individual in question is in trouble and will have to pay the IRS some extra money because of an inconsistency or error on their tax return. However, this isn't always the case. Sometimes, people...
Getting audited sounds as bad as it actually can be. The phrase "getting audited" will strike fear in the hearts of many, and once they actually go through with an audit, they will understand why it is such an abhorred process. However, once you get over this feeling...
When you have a tax issue to resolve, it can be difficult to know if the matter is best resolved through a certified public accountant (CPA) or a qualified tax attorney. In most situations, the particular circumstances will determine if one or the other, or both, are...
If the IRS wishes to do an audit of your tax return, do not panic. In most cases, an audit is simply the government wanting to double check the numbers that were provided on your return. The IRS investigation will go smoothly if you have provided correct numbers for...
If there is one word that makes both individuals and businesspeople alike nervous, it's the word "audit." Even if you're certain that all of your ducks are in a row, knowing that IRS agents are poring over your tax documents is enough to make you lose a little...
As most of our readers already know, the Fifth Amendment to the Constitution protects us from being forced to incriminate ourselves. This is why police must tell people they arrest that they have “the right to remain silent.” In other words, nobody has to say anything...
Back on March 8, we shared some potential red flags on your federal income tax return that raise your chances of having the IRS audit you. There is a lot of advice about how to avoid an audit out there, some of it accurate, some of it false. Today, we will share seven...
The good news is, the IRS audits very few taxpayers. Due in part to budget cuts, fewer than 1 percent of filers have been audited in the past three years, according to the Motley Fool, with just 0.86 percent of returns audited in 2014.The bad news is, there is still a...
