The pandemic resulted in significant delays at the IRS. While there are still problems, tax audits and collections are increasing, indicating a slow return to normal operations. In addition, the IRS has stated that it will be focusing more resources on auditing and collecting taxes from high wealth taxpayers. What does this all mean

If you own a business that collects sales tax in New York, it is important to take proactive steps to avoid a New York sales tax audit. Any audit is stressful but sales tax audits can be particularly onerous if you don’t have an excellent recordkeeping system. Even then, it is best to consult

Filing an amended return does not trigger an audit. The IRS website specifically notes that all returns, including amended returns, go through a screening process that identifies tax returns for further review by an auditor. An amended return may be selected for audit as it goes through the normal screening process but simply filing

If you don’t handle small business audits regularly, having a client hand you a notice they received from the IRS is stressful. Small businesses are frequent targets of audits, and they can be difficult to represent because they often lack the sophisticated recordkeeping or in-house staff to assist in an audit. However, there are

If you own your own business, there are Schedule C audit triggers you need to know. Schedule C is the tax form used by sole proprietors to report their business’s profit and loss to the IRS. It is frequently audited because statistically, there tend to be more problems with taxpayers under-reporting income and over-reporting

If you get audited once, you can get audited again but rarely for the same year. In very limited instances, an audit can be reopened or the IRS can provide notice that additional inspection is needed. Absent those circumstances, the IRS can’t audit you again for that year. However, you can be audited for