Tag Archives: Tax Audit Areas

IRS TAX AUDITS- PART II

Please read our seven part blog series on IRS tax audits.  We have answered some of the most asked questions we receive regarding tax audits. Why was my return selected for audit? When returns are filed, they are compared against … Continue reading

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What Are Your Audit Odds?

Do you wonder what your odds are of being selected for an IRS audit? Statistics just released for tax returns filed in 2011 and audited in 2012 show a 1% audit rate for individual tax returns. About 3.6% of business … Continue reading

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What can Trigger a Tax Audit?

A lot of people are curious to know who the IRS audits.  Audit activities are likely to increase as the IRS continues to utilize enforcement to provide revenue.  At Lefstein-Suchoff CPA and Associates we have years of experience defending taxpayers … Continue reading

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IRS Examination of Return

Have you been selected for an IRS Examination or Audit? Our blog can provide you with some information that may help in the process. The IRS examines a taxpayer’s books and records either at the place of business, or where … Continue reading

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IRS Audits of Independent Contractors

  It is very important to make the proper decision about employee classification.  If an employee is incorrectly identified as an independent contractor you may be liable for the self-employment taxes that you should have paid plus penalties. If you … Continue reading

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IRS has Another Swiss Bank to Find Unreported Foreign Accounts

If you still haven’t reported taxable foreign account income to the IRS, the IRS offshore voluntary disclosure amnesty program might be your final chance.  If you fail to participate, you could be hit with stiffer fines and possible criminal charges. … Continue reading

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Number Seven of the Eight Small Business IRS tax Audit Areas to Watch Through 2013

We are aware that for many of you, the thought of an audit can get your blood pressure racing.  We want to help you by informing you of audit target areas that might likely come under scrutiny by the Internal … Continue reading

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Number Six of the Eight Small Business IRS Tax Audit Areas to Watch Through 2013

An audit is an IRS examination of an individual or business tax return, to verify its accuracy.  An IRS Tax Audit can be one of the scariest situations a person or business can face. Often times the IRS has a … Continue reading

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Number Five of the Eight Small Business IRS Tax Audit Areas to Watch Through 2013

As we wrote about in our last four posts, the IRS continually analyzes compliance levels for entities, issues and industries by conducting hundreds of compliance projects and initiatives each year. Leading up to the start of the government’s fiscal year … Continue reading

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Number Four of the Eight Small Business IRS Tax Audit Areas to Watch Through 2013

While statistically, the odds are in your favor not to get audited, there is always a risk that you can get audited. As we wrote about in our last three posts, the IRS continually analyzes compliance levels for entities, issues … Continue reading

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