Business Income-Related Red Flags
What Could Trigger an IRS Letter (Even If You’re Doing Everything Right) Nobody wants to hear from the IRS—especially not when you’re running a business and juggling a million other …
What do IRS auditors know about your business industry?
To prepare for a business audit, an IRS examiner generally researches the specific industry and issues on the taxpayer’s return. Examiners may use IRS Audit Techniques Guides (ATGs). A little-known …
The Pros and Cons of Digitized Tax and Financial Records
Traditionally, important tax and financial records have been stored as hard copies in desk drawers, filing cabinets, and safe deposit boxes. These days, however, it’s become increasingly popular and easy …
Being Prepared for an IRS Audit
The IRS recently announced it intends to hire thousands of new employees as part of a tax-enforcement push. This could mean an uptick in audits sometime soon, likely focused on …