Estate Tax Audits

Estate tax returns have become relatively rare over the past decade. Since the early 2000’s, the estate tax exemption has been quickly rising, resulting in far fewer estates having to file estate tax returns. Because the number of estate tax returns has been dropping, the IRS has had a statistically greater opportunity to scrutinize the  … Read more

Protecting Your Small Business from an Audit

When you run a small business, you take on an incredible responsibility. This obligation to the success of your business often means great sacrifice to relationships and to time spent with family. With all that you give of yourself, the last thing that you want to deal with is an IRS tax audit. If you  … Read more

Why Was I Audited? Some Flags the IRS Looks For

  “We’re being audited”. This is a dreaded phrase that elicits universal empathy from anyone who hears it. Whether you are an individual or a business, the prospect of an audit means hours of extra work and the possibility of a dramatically higher tax obligation. If the audit goes badly, then there is the additional  … Read more

President Trump Establishes IRS Priorities

  Everything in the national news these days seems to focus on Russia investigations and the GOP’s efforts to replace Obamacare. This is unfortunate for President Trump, who had high hopes of quickly implementing a sweeping tax code overhaul and reform. While it is unlikely that congress will even take any substantive steps toward tax  … Read more

President Trump’s Proposed Cuts to the IRS Budget

Treasury Secretary Supports Increased IRS Hiring New Treasury Secretary Steven Mnuchin has advocated for increased hiring at the IRS. During his confirmation hearings, he expressed concern that the IRS, a government agency tasked with collecting revenues, has seen its’ number of employees decline almost 30% over several years. He testified that he would tell President  … Read more

What You Need to Prepare for Your Tax Appeal

Tax Appeal

  If you have been audited by the IRS and they raised your tax obligation, you have probably received a notice of your right to appeal the auditor’s report. These appeals go through the IRS Tax Appeals office, which is a separate office from the one that conducted your audit. The tax appeal officer who  … Read more

Is a Tax Appeal Right for Me?

Is a Tax Appeal Right for Me

Tax season is well underway, which means that you are in the process of preparing your taxes, if you haven’t already filed. Unfortunately, it also means that a new audit season has opened for the IRS. If you or your business is being audited and you ultimately receive a higher tax bill, I highly recommend  … Read more

What If I Know Someone With Underpaid Taxes?

The Internal Revenue Service (IRS) has a Whistle-Blower Office that allows the IRS to pay awards to whistle-blowers for information leading to detecting underpayments of tax and punishing persons guilty of violating the IRS tax laws.* According to the IRS, $2 billion was collected by the IRS because of information provided by whistle-blowers. Awards paid to  … Read more

The IRS Audit Process

In 2015 the IRS audited a total of almost 1.4 million tax returns, approximately 0.7 percent of all returns filed in calendar year 2014. 0.8 percent of all individual income tax returns filed were audited and 1.3 percent of corporation income tax returns filed were audited (Source: 2015 Internal Revenue Service Book October 1, 2014  … Read more