/Tag: Chances of an audit

What to do When You Receive a Letter from the IRS

By |2017-05-24T13:42:24+00:00June 2nd, 2014|Categories: Audit & Accounting|Tags: , , , , , |

Do you know what to do when you receive a letter from the IRS?  Your first reaction may be to panic, but your letter is most likely one of millions that the IRS sends to taxpayers every year.  So, wipe the perspiration from your forehead, take a deep breath, and calm the shaky hands.  This [...]

Eight Reasons the IRS May Flag Your Tax Return

By |2017-05-24T13:42:34+00:00March 4th, 2013|Categories: Articles, Audit & Accounting, Tax Planning|Tags: , , , , , |

What are your chances of being audited by the IRS? Not surprisingly, the nation’s tax collector tends to go after the big money. According to figures recently released by the IRS, approximately 1.11% of all 2010 individual tax returns were audited in 2011, the same as the prior year. This rate has hovered around the 1% [...]

Surviving an IRS Audit

By |2017-05-24T13:42:42+00:00July 5th, 2012|Categories: Articles, Tax Planning|Tags: , , , , , , |

One word that can make taxpayers cringe is “audit.” Fortunately, chances are slim that you’ll experience an audit: In 2011, the IRS audited just over 1.5% of returns. However, certain triggers can boost the likelihood that your return is among those targeted. How do you get chosen for an IRS audit? There are several red [...]

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