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IRS audit Tagged Articles



7 Things Small Business Owners Should Know About Payroll Tax Problems
Learn how to avoid severe IRS penalties, huge tax debt and federal criminal investigation!
Biggest Mistakes Small Businesses Make When Faced with Delinquent Payroll Taxes and IRS Penalties
Payroll tax problems can close a business overnight and lead to criminal sanctions including prison time. As the IRS grows increasingly aggressive in their collection attempts for past due payroll taxes, struggling business owners with delinquent payroll taxes need to know how to protect the future of their businesses. Don't let the IRS levy your funds and take control of your cash flow - find out how you can resolve payroll tax penalties and avoid the long-term devastation they can cause your company.
Audit Proof your Business and Individual Tax Returns
While it is very encouraging to maximize legitimate deductions and receive big tax refund, it can be extremely painful to come under an IRS audit scrutiny. Many in the tax community believe that the audit-free ride for tax payers is likely to get over soon. IRS is likely to step up its audit enforcement in coming years as the federal government decides to close the massive budget deficit gap. IRS audits around 1.2 to 1.5 million tax returns – a small fraction of the total tax returns filed in the US. So, while it is still unlikely that you will be audited, the odds are increasing rapidly in middle to high income groups.
Top Tax Audit Traps for H1, L1 and Information Technology (IT) Consultants
With a view to benefit the H1 L1 visa holder community, this article covers at a high level the potential tax audit issues that H1 L1 information technology (IT) consultants may be facing. The Tax Audit department in our office has come across several IRS Audit cases involving H1, L1 tax payers. Most of these tax returns were prepared and filed by offshore based tax preparers. The audit trigger seems to have been the excessive business travel expense deduction. Before we dive deeper into the issue, let us cover some fundamentals around the tax laws.

Work from Home as an Independent Contractor
Finding a work at home job is ideal for many people because they can break free of the corporate rat race. They can become their own bosses, set their own hours, and don't have to be tied to just one company.
Audits: Always Be Prepared
Don't ever assume you won't be audited. It can happen to anyone and you need to be prepared. What many people overlook is that you will need much more than your receipts to be properly prepared for an audit. We have provided a list of items you should keep in mind at all times in case you are later audited:

Other IRS audit Related Articles

Tough to Tackle Taxes without Tax Pro’s Help
With the Internal Revenue Service stepping up its auditing of small businesses, tax professionals are advising entrepreneurs to get the jump on tax planning now so they will be better prepared in case they are targeted for an audit.
EMBODYING THE VALUES
CARRY OUT A PERSONAL AUDIT:To identify your most important values , you need to carry out a personal audit.It means that you have to take stock of what type of world you want to live in, what will induce meaning and purpose in life. Once you have found your most important values, you need to pursue and embody them in your life.The exercise which follows will help in practising your values.
Audit Proof your Business and Individual Tax Returns
While it is very encouraging to maximize legitimate deductions and receive big tax refund, it can be extremely painful to come under an IRS audit scrutiny. Many in the tax community believe that the audit-free ride for tax payers is likely to get over soon. IRS is likely to step up its audit enforcement in coming years as the federal government decides to close the massive budget deficit gap. IRS audits around 1.2 to 1.5 million tax returns – a small fraction of the total tax returns filed in the US. So, while it is still unlikely that you will be audited, the odds are increasing rapidly in middle to high income groups.
How to do a Basic Energy Audit
How to do a Basic Energy Audit of a Non-Residential Building
Advanced Energy Audits
Advanced Energy Audit Methods for Non-Residential Buildings
Top Tax Audit Traps for H1, L1 and Information Technology (IT) Consultants
With a view to benefit the H1 L1 visa holder community, this article covers at a high level the potential tax audit issues that H1 L1 information technology (IT) consultants may be facing. The Tax Audit department in our office has come across several IRS Audit cases involving H1, L1 tax payers. Most of these tax returns were prepared and filed by offshore based tax preparers. The audit trigger seems to have been the excessive business travel expense deduction. Before we dive deeper into the issue, let us cover some fundamentals around the tax laws.

The Fearful FLSA Audit
In this issue of Astronology, we take a look at the Department of Labor audit, and the steps you can take in order to avoid one.
Do you have a STRATEGIC Audit Plan to guide your business?
Internal audit functions are essential to good business because the right auditing system and team can save money, find your business blind spots and provide much needed perspective. But a STRATEGIC Audit Plan is critical to using your audit team for the best results.

Internal Audit Preparation
The internal audit planning process is reviewed with discussions of best-practice audit procedures, documentation, and collaboration with the internal auditors.
Assessing the circumstances during a QA Certification Audit
Years ago, while carrying out a certification audit, I came across a situation for which no training could have prepared me. How would you have assessed this situation?
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