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20 tips to avoid a tax audit of your small business return

IRS audits are stressful and costly. Learn best practices and tips that will reduce your chances of getting audited by the IRS and help you stay compliant.
Forbes

A New IRS Commissioner And The Promise Of More Efficient Tax Audits

WASHINGTON, DC - AUGUST 18: The Internal Revenue Service (IRS) building on Thursday, Aug. 18, 2022 in Washington, DC. (Kent Nishimura / Los Angeles Times via Getty Images) The Senate has officially ...
Forbes

IRS Says To Disclose Aggressive Tax Positions. Is It An Audit Trigger?

A stock photo of a Red Audit stamp on a 1040 US individual income tax return. Photographed at 50mp with the Canon EOS 5DSR and the 100mm 2.8 L lens. The IRS wants you to “disclose” if you do not have ...
MiBolsilloColombia on MSN

Avoid these 4 errors that could trigger an IRS audit

Most taxpayers won’t be audited, but common mistakes—like reporting errors or inconsistencies—can raise red flags. Knowing the IRS’s top audit triggers can help you reduce your risk.
Forbes

How Long Can IRS Audit You? It Varies From 3 Years To Forever

A stock photo of a Red Audit stamp on a 1040 US individual income tax return. Photographed at 50mp with the Canon EOS 5DSR and the 100mm 2.8 L lens. It is only natural to be worried about being ...
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The IRS Is 4 Times More Likely To Consider You For An Audit If You Make This Much Money

Audit rates dropped sharply -- down 46% -- between 2010 and 2018. The audit rate for individual tax returns went from 1.1% to just 0.6%, based on a Congressional Budget Office report. By 2022, the IRS ...
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The IRS Is Slashing Audits. That Doesn’t Mean You’re in the Clear.

The tax cuts enacted last month aren’t the only good news for high-income taxpayers. The risk of an in-depth audit by the Internal Revenue Service is likely to ease this year, reversing a two-year ...