Unreported income is a significant issue for the IRS. The agency estimates that the United States loses billions of dollars in tax revenue each year due to unreported income. Given the scale of this loss, it is not surprising that…
Read More
An IRS Notice of Deficiency, also known as a "90-day letter," is a notice that no taxpayer wants to receive. It was sent to you because the IRS is proposing an increase to your taxes due to a mail or…
Read More
If you've been notified that your tax return is subject to an Internal Revenue Service (IRS) audit or examination, you may have received an IRS Information Document Request or IDR. This formal request from the IRS is a standard part…
Read More
Tax audits are often the stuff of nightmares for many taxpayers. The idea of the Internal Revenue Service (IRS) combing through your financial records and scrutinizing your tax returns can be intimidating. One common question that arises is, "How far…
Read More
The Internal Revenue Service (IRS) is responsible for ensuring that taxpayers comply with tax laws and regulations. To accomplish this, the IRS employs two types of professionals who work with taxpayers: Revenue Agents and Revenue Officers. While both Revenue Agents…
Read More
The mention of an IRS tax audit has long been a cause for concern for taxpayers. Sometimes the concern is justifiable, while other times it's a fear arising from mythologies created about the agency. People both overestimate and underestimate the…
Read More
Unfortunately, there is no concrete answer to the question, “How long does an IRS audit take?” There are many factors that determine how long a specific tax audit takes. No two IRS audits are the same, which means predicting how…
Read More
Tax time can be one of the most hated times of the year. Just preparing the forms is enough to be an irritant, and if you owe the government money there’s a good chance that you’re downright annoyed. But neither…
Read More
Have you received an IRS audit letter or notice and don’t know what you should do next? Sometimes the response you need to provide might be simple, while other times it can be extremely complex. (more…)
Read More
When filing your 2019 partnership tax return you need to remember that IRS procedures for auditing partnerships changed in 2018. The new audit rules can result in a partnership-level tax of 37 percent. (more…)
Read More