Five Red Flags That May Trigger an IRS Audit

Although universally dreaded, IRS audits are actually quite infrequent. In 2014 less than 1% of all individual tax returns were audited, and that trend doesn’t look to change in 2015. To minimize the risk of being subjected to this stressful process, this blog entry presents and explains five “red flags” that could cause the IRS to take an uncomfortably close look at your return. Failure to report all of your taxable Read More

Whatever You Do, Don’t Panic: How to Face an IRS Audit

Though nearly everyone fears a civil IRS audit, it’s a tax process that individuals and businesses know surprisingly little about. What you’ve seen on television and in movies is more dramatic and intense than reality. Sometimes, an IRS audit is resolved relatively easily and with little or no financial penalty. However, should you face an IRS audit, it’s important to take it seriously. Below are tips to keep in mind Read More