What raises the red flag for the IRS to audit your business or company? It’s common for the IRS to randomly choose accounts to audit, but what does it take for them to go after someone directly? Math mistakes, hiding income, deduction overkill, and round numbers are...
If the IRS decides to audit your business or company, they will check whether or not an individual or business entity has reported accurate taxable income, losses, expenses, deductions, and more in compliance with the federal tax law. If the IRS auditor finds even a...
Typically, the IRS can comb back through three years of your taxes and issue an audit. This is a rolling three years, so they can reach back three years from any given time. If the IRS finds substantial errors in those three years, they’ll reach back another three...
