How Long Does the IRS Have to Audit Your Returns?
Nobody wants to spend their whole life looking over their shoulder, wondering if the IRS will audit them. Luckily, there is a statute of limitations on IRS audits and tax assessments. Once the limitations period expires, the IRS can’t audit your return or assess any additional tax. You may have heard that the statute of […]
IRS Tax Audits: What Are They And How Do You Handle Them?
For many, the term “audit” brings to mind a daunting process where the IRS accuses a taxpayer of breaking tax laws; however, while tax audits performed by the IRS should be taken seriously, they are not always the dramatic process that many Americans fear. Often, those identified for audit are selected at random or through […]
How To Prepare For An IRS Tax Audit & How A Professional Can Help
The IRS may audit you due to incorrect numbers filed on your tax returns, failure to report income, or deducting too many business expenses—or, you may be selected for an audit at random. Regardless of what prompts the audit, they all begin with a letter. This blog will help taxpayers better understand the IRS tax […]