Getting a letter from the IRS that your tax return is being audited may strike fear into the hearts of business owners. But the more you know about IRS audits, the better you can fare.
Tag: IRS
The chances of IRS audit are down but you should still be prepared
The IRS just released its audit statistics for the 2018 fiscal year, and fewer taxpayers had their returns examined as compared with prior years. However, even though a small percentage of tax returns are being chosen for audit these days, that will be little consolation if yours is one of them. Latest statistics Overall, just[ … ]
Tax Filing Season Begins Following Partial Government Shutdown
Tax filing season begins on Monday, just days after the 35-day partial government shutdown came to a close. It’s expected that the IRS is backlogged after the shutdown, and that tax returns may be delayed. But another shutdown is looming, as the stopgap spending bill is only lasts until Feb. 15. Another shutdown could further[ … ]
