Texas residents who have adopted children in the last year may find themselves targeted by IRS audits if the tax agency treats such filers as it did in 2012. According to the Taxpayer Advocate Service, a branch of the Internal Revenue Service, the IRS flagged approximately 90 percent of taxpayers … [Read more...] about IRS audited over 70 percent of adoption claims
How the IRS might be tracking you online
Legal experts and taxpayer advocates have raised concerns over the Internal Revenue Service's plan to begin using "robo-audits" to identify citizens who have failed to properly pay their federal income tax, saying the agency reached the decision to roll out the new practice without properly … [Read more...] about How the IRS might be tracking you online
IRS accused of using social media to identify audit targets
According to a prominent international news outlet, the Internal Revenue Service is slated to begin using social networking services to find and track individuals suspected of cheating on their taxes. A taxpayer found to have submitted an inaccurate or fraudulent return can face heavy penalties from … [Read more...] about IRS accused of using social media to identify audit targets
Dealing with a tax audit
April can be a stressful month for Texas taxpayers as they struggle with the complexity of their taxes and rush to file their returns for the IRS's deadline; however, tax audits can strike at any time of year. While only about 1 percent of returns are targeted for audits by the IRS, this amounts to … [Read more...] about Dealing with a tax audit
IRS red flags for tax season
As April approaches, thousands of people and businesses across Texas are preparing to file their federal income tax returns, a prospect that leaves many stressed, intimidated and annoyed. However, tax experts stress the importance of filing accurate returns to avoid making tax season even more … [Read more...] about IRS red flags for tax season
Tips for avoiding IRS audits
According to an official report from the Internal Revenue Service, an average U.S. taxpayer with an annual salary of under $200,00 has about a 1 percent chance of being audited in a given year. This is slightly higher than past years, when the audit rate hovered at around 0.98 percent amidst an … [Read more...] about Tips for avoiding IRS audits