Audits

In the most recent measure of the Internal Revenue Service's power over small businesses, the agency has announced eight new audit areas it will emphasize in 2013. The IRS claims that underreporting on taxes by small businesses accounts for about 84 percent of the U.S.'s $450 billion tax gap. Small … [Read more...] about Small businesses to face more thorough IRS audits

Receiving mail from the Internal Revenue Service can be distressing for many taxpayers, especially when it asks them to send back bank records and other financial information. The IRS often sends summonses in audit fraud cases, which can be particularly concerning due to the potentially severe … [Read more...] about Responding to an IRS summons

Even though tax season is still far away, a Hispanic advocacy group is encouraging filers to start thinking about their tax returns now, instead of waiting until April. Statistical information shows that Hispanic Americans, particularly those who have been in the country for less time, are generally … [Read more...] about Foundations make taxes easy for Latinos

The University of Texas at Austin is among the more than 30 universities nationwide recently audited by the Internal Revenue Service. The IRS is trying to enforce effective tax administration, meaning it wants to make sure that the schools are properly reporting taxable income. The IRS is … [Read more...] about IRS audits Texas universities, others

Some residents of Dallas and all across the country might not have to pay taxes, interest and penalties if the Internal Revenue Service finds the return to be fraudulent. It's important that people who are conned by others not go through the grueling process of having the IRS audit their … [Read more...] about Spouses not always liable for tax fraud

The Internal Revenue Service is watching tax returns closely, using improved computer systems to detect any potentially inaccurate returns. But for Texas taxpayers who have doubt as to liability, producing good records and calling on professionals if help is needed can produce a good result to any … [Read more...] about Keep good records in case of IRS audit