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IRS Audits: The Types of Audits – Part Two

Continued from IRS Audits: The Types of Audits – Part One Office Audits (continued) After the AO examiner receives and evaluates the taxpayer’s information, the examiner will issue a decision based upon the type of case. For example, the AO examiner may “issue the audit reconsideration full allowance (full abatement of assessment)” by completing and […]

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IRS Audits: The Types of Audits – Part One

IRS audits, or civil examinations, are conducted based upon the type of taxpayer, the scope of the examination, and the complexity of the tax return. All taxpayers are expected to provide supporting documentation with regard to questionable items. Examinations may be conducted by correspondence, telephone, or through field interview. Business returns are typically examined in […]

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Why the IRS Audits Tax Returns?

The Examination Division of the Internal Revenue Service is responsible for auditing federal tax returns to determine if income, expenses, and credits are reported accurately. Although the IRS accepts most tax returns when filed, there are circumstances that warrant an audit. Within this context, the IRS is motivated to evaluate those areas of a tax […]

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IRS Examination

Introduction to IRS Examination IRS Examination is often likened unto and often referred to as the IRS audit function. Typically, the IRS accepts most federal tax returns when filed. However, there are circumstances in which the IRS examines, or “audits,” to determine if reported income, expenses, and credits have been reported accurately by the taxpayer. […]

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Going Solo: How to Represent Yourself in an IRS Audit – Part Two

Continued from Going Solo: How to Represent Yourself in an IRS Audit – Part One  IRS Audit Tip #4: Win More Flies with Honey than with Vinegar It is difficult for many taxpayers to keep their emotions in check during an audit. Many are scared of the government examining their records, angry at the inconvenience […]

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Going Solo: How to Represent Yourself in an IRS Audit – Part One

First, it should be noted that the decision to represent yourself in an audit should be made carefully. Examination changes during the audit process can ultimately be extremely costly with the extra interest and penalties that the auditor may add to your final tax bill. Even though audits are different for everyone, I have compiled […]

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IRS Tax Audit Red Flags – Part Ten – The Self Employed

Continued from IRS Tax Audit Red Flags – Part Nine – Margins I love the entrepreneurial spirit that many small business owners have and have dedicated my life to helping them solve their tax, legal, and business problems. Why they require my help is that many of them, as great as they are at whatever […]

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