Tax Information

Internet-based tax preparation software and tax assistance is more plentiful than ever. If you are seeking help with a personal tax return, or even filing taxes for a small business, the web is a...

Your files of old paperwork are overflowing. Your goal is to get yourself better organized. To do that, you need to clear out any papers you no longer need. Unfortunately, you hear conflicting...

An audit involves a review of financial statements by the Internal Revenue Service (IRS) after which an opinion is given as to whether the evidence gathered in the audit is factual, complete, and...

Another April 15 has come and gone. You're worried that you may have made mistakes when filing your tax returns with the IRS. Now you wonder how long the agency has to audit your return. Not...

Facing a tax audit is enough to strike fear in even the most intrepid taxpayer. The Internal Revenue Service is one of the most feared organizations on Earth, and it is no wonder so many people...

If you've received notice that your tax returns are being audited, don't panic. If you bring the documents required by the IRS, the odds are far better that your audit will be as painless as possible.

In 2009, the financial website Bankrate.com reported that the IRS audited 1.4 million tax returns in fiscal year 2008, the highest since 1998. There are several red flags that trigger an audit. By...

If you live long enough, you may have the terrifying experience of receiving a letter in the mail from the IRS notifying you that you've been selected for an audit. There is a 3-year statute of...

According to the Federal Citizen Information Center, an Internal Revenue Service tax audit is an impartial review of your tax return to determine its accuracy. Your chances of being audited are...

TaxCut and TurboTax, which are the two leading software options for do-it-yourself tax return preparation, offer similar options and pricing. Differences in terms of audit support, state return...

An audit is the dental equivalent of a root canal; there's really very little good to say about one and if you live long enough, you'll probably have one. The key is to always be prepared and to...

TaxACT Online is one of many popular pieces of tax preparation software that Americans use to pay their income taxes. Despite the software's popularity, users have reporte issues. These problems...

Simple steps you can take to reduce the chance that you are selected for a tax audit

The IRS audits more than 50,000 businesses and 1,250,000 individual taxpayers each year, mainly via correspondence exams. Although no one can guarantee you will never be audited, you can lower...

Few things are more stressful than receiving a tax audit notification letter from the federal Internal Revenue Service. But not every audit results in additional tax or penalties due to the...

One of the most frightening prospects for any American taxpayer is the possibility of being audited by the IRS. Although the presence or amount of certain deductions may increase your chances of...

When you file your income taxes, you are required to maintain those records after filing, because the IRS has the right to audit your taxes and request any original documentation that you have....

Choosing between TurboTax Basic and Deluxe edition can depend on your circumstances. There are advantages to using the basic edition and advantages to using the deluxe edition. Once you see the...

Receiving a notice from the Internal Revenue Service is not something many Americans look forward to. The thought of a tax audit causes fear and anxiety. But don't panic. The best antidote when...

Using this guide, you can get some insights as to how to make an audit less stressful.

If you want to avoid an audit by the IRS, there are several measures you can take. Remember to keep accurate records and have a system that allows you to store your business information and...

Ok so you’ve gotten the dreaded IRS audit notification. You are in a complete panic. Normal reaction. Take a deep breath and decide who should go with you to the audit.

I don’t think there is anything more dreaded than an IRS audit. As soon as you get the news of the impending audit, you feel sick to your stomach, you break out into a cold sweat, you start having...

Facing an IRS Tax Audit? You do not have to walk in defeated just because you have IRS tax problems. You can win an IRS Tax Audit and walk away vindicated. You will need to be careful with what...

If you have received a notice from the IRS for an Audit of your tax filing, you can help yourself survive by doing a few things.

Unfortunately, there is no fool proof solution to avoiding an IRS tax audit but controlling the cash flow in a checking account is a good tip to watch when avoiding an audit. Avoid excessive risk...

To start a financial statement audit, the auditor will send a prepared by client request list also called a PBC list. Get a financial statement audit started by beginning this list and using this...

When selling a business the first thing most buyers want to see is an audited financial statement and it is very important to figure out who's going to give the best audit for the sale. Find a...

Unfortunately, there is no fool proof solution to avoiding an IRS tax audit but there are ways to avoid being a high risk for audit potential. Avoid excessive risk of being audited on a tax return...

The words "IRS audit" strike fear in the hearts of many U.S. taxpayers. The process sounds intimidating, and sometimes is, but the IRS audits relatively few tax returns. According to some...

The IRS may flag rental properties with consistent losses. Learn tips for reporting rental income and losses from your investment properties to avoid a tax audit from the IRS in this free personal...

Shareholders of audited companies should expect some attention from the IRS. Learn how to handle the audit of a company of which you are a shareholder in this free personal finance video from an...

File complete and accurate tax form to avoid suspicion from the IRS. Learn not to submit inaccurate or false information on your tax return to avoid a tax audit from the IRS in this free personal...

Avoid frivolous deductions when filing taxes. Learn the do's and don'ts for selecting your tax preparer to avoid a tax audit from the IRS in this free personal finance video from an experienced...

Be careful reporting your tax shelters. Learn tips on how to report tax shelters to avoid a tax audit from the IRS in this free personal finance video from an experienced accountant.

Be sure to report case income on your tax forms. Learn how to handle reporting cash and tips to avoid a tax audit from the IRS in this free personal finance video from an experienced accountant.

Medical expenses and property taxes are examples of itemized tax deductions. Learn how to document your contributions in relationship to your income to avoid a tax audit from the IRS in this free...

Check the math on your tax form. Learn mistakes which will automatically cause the IRS to target your return for an audit in this free personal finance video from an experienced accountant.

When the IRS calculates that the amount of income, expenditures and deductions you claim does not match the records of your employer or otherwise looks out of balance, this governing body will...

Claiming the Earned Income Credit (EIC) on your federal tax return increases your odds of being audited. The Internal Revenue Service uses more scrutiny with returns filing Schedule EIC because it...

The words "tax audit" strike fear and dread in most taxpayers, conjuring up images of dark-suited IRS agents scrutinizing every receipt, every worksheet and every line of a tax return, all while...

Nothing is worse than having your finances and personal matters exposed for the government to see. It is embarrassing and invasive when the IRS representative comes knocking on your door. You...

What is it about a tax audit that strikes fear in the hearts of normally-brave people? A community survey in Denver, Colorado in the 1990's revealed that 63% of the respondents said a tax audit...

Only the IRS knows the exact details of who and when to Audit, but you can reduce your risk of getting selected for an audit by following the steps below.

When I got a thick envelope in the mail addressed IRS, i began to get chills. An IRS audit was my fate. Little did I know it wasn't as horrible as I thought. Its not something I would ever want to...

The federal deadline for tax filling is around the corner, and with a tough economy many americans will itemize their deductions for the first time this year. As some taxpayers will seek the...

If the info I am about to share is ever needed, you will know what not to take with you to a tax audit. We might know someone who can benefit from this too.

While there's no guarantee that you won't at some point receive an audit letter from the IRS, there are ways to avoid a tax audit by understanding the IRS's red flags for scrutinizing returns. ...

Although it is quite unlikely you will get audited by the IRS, it’s still very possible and happens to many taxpayers each year. Want to know how to avoid an IRS tax audit? Here are a few tips…

When you get audited by the IRS, your tax return is not the only thing being examined. You are on trial as well, and your behavior will determine to some extent how your audit goes. This article...