Audits

Should You Expect An Audit?

The Huffington Post | Rieva Lesonsky | Posted 04.23.2012

Read More: Survey Says, Irs, IRS Audit, Small Business Tax Deductions, Audits, Small Business News and Trends, Business Expenses, Small Business Taxes, Tax Breaks, Tax Deductions, Small Business News

It may be a little late to dispensing tax advice, but often the best time to start preparing for next tax season is while the IRS is still fresh on yo...

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5 Tax Audit Myths Debunked

Bob Meighan | Posted 04.04.2012

Read More: Taxes, Tax Tips, Tax Audits, Personal Finance, Automated Adjustment Notice, Irs, Audits, Tax Returns, Tax Return, Money News
Bob Meighan

Getting audited by the IRS is one of the biggest fears for taxpayers. But what is the likelihood that you will be audited? And what are common audit triggers?

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Making a Household Inventory List Can Save Time and Money

Julian Block | Posted 07.31.2011

Read More: Taxes, Income Taxes, Tax Court, Internal Revenue Service, Theft Losses, Tax Planning, Tax Audits, Penalties, Taxes/Small Business, Tax Advice, Income Tax, Taxes/Individual, Casualty Losses, Audits, Tax Savings, Taxes/Family, Taxpayer Information, IRS Audits, Deductions, Business News
Julian Block

Did you know that the tax code allows you to claim tax deductions for household damage caused by thefts, vandalism, fires, floods, hurricanes and others kinds of casualties?

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Dave Jamieson

Chipotle Immigration Scandal Sparks Reform Debate

HuffingtonPost.com | Dave Jamieson | Posted 07.11.2011

Read More: Virginia, Immigration Reform, Minnesota, Unemployment, Immigration and Customs Enforcement, Audits, Chipotle Illegal Immigration, Chipotle, Chipotle Undocumented Workers, Immigration, Chipotle Immigration, Barack Obama, Business News

WASHINGTON - Miguel Bravo's year-and-a-half-long stint working at a Chipotle in Washington, D.C., came to an abrupt end on March 9. That day, he says,...

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Travel Deductions for Gamblers

Julian Block | Posted 06.04.2011

Read More: Taxes, Income Taxes, Tax Court, Internal Revenue Service, Ga, Tax Planning, Tax Audits, Penalties, Taxpayer-Information, Taxes/Small Business, Tax Advice, Gambling, Travel Deductions, Income Tax, Taxes/Individual, Audits, Tax Savings, Taxes/Family, IRS Audits, Deductions, Business News
Julian Block

The tax rules for gamblers can be summed up simply: "Heads, the IRS wins; tails, gamblers lose." The faux-friendly feds routinely nail gamblers for taxes on their winnings.

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Filing-Time Fantasies

Julian Block | Posted 05.25.2011

Read More: Taxes, Income Taxes, Tax Court, Internal Revenue Service, Tax Planning, Tax Audits, Penalties, Taxes/Small Business, Tax Advice, Income Tax, Taxes/Individual, Audits, Tax Savings, Taxes/Family, Taxpayer Information, IRS Audits, Deductions, Business News
Julian Block

Most myths are fairly short lived. Some, though, just refuse to die. Take, for example, the one that makes the rounds every filing season about how to lessen the likelihood of an audit.

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Extra Time to File Form 1040

Julian Block | Posted 05.25.2011

Read More: Taxes, Income Taxes, Tax Court, Internal Revenue Service, Tax Planning, Tax Audits, Penalties, Taxes/Small Business, Tax Advice, Income Tax, Filing Extension, Taxes/Individual, Audits, Tax Savings, Taxes/Family, Taxpayer Information, Form 4868, IRS Audits, Deductions, Business News
Julian Block

For most people, this year's deadline for filing Form 1040 is Monday, April 18. Miss the deadline and you could get slapped with a substantial, nondeductible penalty.

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WARNING: IRS Audits Jump By 11 Percent, Wealthiest Targeted

AP | Posted 05.25.2011

Read More: Taxes, Irs Taxes, Irs, Audits, IRS Audits, Tax Audits, Cheating on Your Taxes, Business News

WASHINGTON — The Internal Revenue Service is making it a bit riskier to cheat on your taxes. The tax agency increased the number of returns it ...

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Contested Recounts Unlikely in Major Races, Despite the Hype

Rob Richie | Posted 05.25.2011

Read More: Recounts, Audits, Elections 2010, Lisa Murkowski, Politics News
Rob Richie

Recounts take place rarely: From 2000 to 2009, there were 18 recounts out of 2,884 statewide general elections.

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IRS Launches Unit Aimed At Catchy Wealthy Tax Cheats

Reuters | Kim Dixon | Posted 05.25.2011

Read More: Income Tax, Irs, Internal Revenue Service, Audits, IRS Wealthy Tax Unit, Tax Cheats, Tax Havens, High Wealth Unit, Business News

WASHINGTON (Reuters) -- Audits are underway at a new Internal Revenue Service unit set up to catch rich tax cheats hiding funds in tax shelters, but ...

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Global High Wealth Industry Group Created: New IRS Brings Unit Will Target The Very Wealthy

Wall Street Journal | MARTIN VAUGHAN | Posted 05.25.2011

Read More: Global High Wealth Industry Group, Global High Weatlh Industry, Irs Investigation, Irs, Internal Revenue Service, Auditing the Rich, Millionaires, Tax Fraud, Billionaires, Tax Shelters, Income Tax, High Net Worth Individuals, Audits, Irs Probe, Unit, Special Unit, Offshore Accounts, Tax Havens, Business News

WASHINGTON -- A new Internal Revenue Service enforcement unit targeting the very wealthy will help the tax agency decode partnerships, offshore trusts...

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IRS Audits of Millionaires on the Rise

AP | JIM ABRAMS | Posted 05.25.2011

Read More: Income Levels, Millionaires, Millionaires Audited, Audits, Irs, IRS Audits, Tax Agency, Business News

WASHINGTON — There's at least one advantage to not being a millionaire _ less chance of being audited by the Internal Revenue Service. The tax ...

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