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How to Deduct Charitable Contributions
How to Get Tax-Free Profit From Your Rental Home
How to Deduct Home Equity Loan Interest
How to Deduct Home Mortgage Loan Interest
How to Determine What the IRS Considers a Charitable Contribution
How to Write a Check to the IRS
How to Deduct the Cost of a Vehicle Used in Business
How to Avoid an IRS Audit
How to Give Tax-Free Gifts
How to Deduct Home Improvements
How to Meet the IRS Definition of a Dependent
How to Report Tax Evasion
How to Report Taxable Inheritance Income
How to Spend 2008 IRS Tax Rebate Checks
How to Find Out When Your 2008 IRS Rebate Check is Coming
How to Find an Auditor
How to Get Your Financial Statement Audit Started
How to Prepare Your Tax Information for Your CPA
How to Avoid Paying Too Much For Your Financial Statement Audit
How to Lower Your Audit Risk
You can be chosen randomly for an IRS audit. Learn what to do if the IRS audits your taxes in this free pe… More
The IRS audits people who are late with their tax payments, people who do not file tax returns and people … More
The IRS will tell you what specific items they are auditing. Learn what to do if the IRS audits your taxes… More
An external audit occurs when a hostile third party comes in to audit the affairs of a company or an indiv… More
Unfortunately, there is no fool proof solution to avoiding an IRS tax audit but controlling the cash flow … More
Page two of publication 1 explains the IRS audit appeals process. Learn what to do if the IRS audits your … More
Everything you say during an audit will be recorded in your audit file. Learn what to do if the IRS audits… More
Shareholders of audited companies should expect some attention from the IRS. Learn how to handle the audit… More
Keep all documentation and receipts for charitable donations. Learn what to do if the IRS audits your taxe… More
Avoiding a tax audit is possible by being completely honest about deductions, but audits can still occur e… More
Don't bring in all receipts and documentation to an IRS audit. Learn what to do if the IRS audits your tax… More
IRS audits are triggered by flats in the account, such as not filing a tax return, including unusual deduc… More
To deal with the IRS, read their letters carefully, find out exactly what is needed, call the phone number… More
Summary: 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 of being audited on a tax return with tips from an experienced tax professional in this free video on taxes.
Danielle Loughran is a CPA with over nine years of public and private accounting experience at Arthur Anderson and Ernst & Young. Loughran was also responsible for internal controls...read more
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"Do you ever hear your auditors talking all about audit risk, and you wonder what is that? My name is Danielle Loughran, I'm a CPA with Accell and I'm here to talk to you about how to lower your audit risk. What is this audit risk thing? Well, there's a few different components to it, but in layman's terms it means how much risk is in this account that's on your balance sheet. For instance your cash bank account, that's pretty easy for your auditors to test and if you have good internal controls around it, it shouldn't be that big of a deal, but there are other more complicated areas of your balance sheet that might have higher audit risks. The real key thing to take away to audit risk is knowing that properly addressing your internal controls and making sure that you have segregation of duties and other helpful things like that will go a long way to reducing your audit risk. And what does that mean? That means the auditor has to do a little bit less work to get comfortable with the balance. That's a good thing for you because that means less interruptions while the auditors are out in the field and getting the audit results a little bit faster. I hope that this gave you a tidbit more into the light of audit risks, but I highly recommend that you consult your local CPA to get a better understanding and learn how you can reduce your audit risk. My name is Danielle Loughran, I'm a CPA with Accell and I hope you feel a little bit better about risk."
eHow Article: How to Lower Your Audit Risk
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