Tag Archives: IRS Audit

How an IRS Audit Starts

An IRS Audit is a review of an individual’s or business’ accounts and financial information to ensure they are complying with tax laws and paying the correct amount of taxes. The IRS is focused on collection issues and selects tax … Continue reading

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Why Am I Being Audited?

Wondering how you got chosen to be audited by the IRS? There are several avenues that may lead to the dreaded IRS examination. If you omit income that was reported to the IRS, their computers will pop-up and send you … Continue reading

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Audit Risk Highest on $10Million+ Income

Recently released data from the IRS shows that 19% of ┬áincome tax returns showing an Adjusted Gross Income (AGI) of $10,000,000 or more were examined in 2010 even though they were just .01% of all returns submitted that year. That’s … Continue reading

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