Forbes

Tax Audit Triggers And Tips On How To Avoid Them

Karla Dennis, EA, MST, is CFO/CEO of the award-winning tax accounting firm KDA Inc.—specializing in tax planning. Nobody likes an audit, right? Of course not. So why aren’t taxpayers doing everything ...

Bigger tax refunds may be coming — but missing key forms could flag your return for audit

Your tax return could trigger an IRS audit if you're missing key tax forms, experts say. Here's a checklist of forms and when ...
Nasdaq

How To Handle a Tax Audit — And When To Hire Help

There are few things that strike more fear into the heart of the average taxpayer than the words "IRS audit." The thought of facing down an IRS auditor and having to explain your entire financial life ...
CNBC

Here's why IRS tax audits have declined over the past decade

In 2022, the IRS audited 3.8 out of every 1,000 income returns, a rate of 0.38%. Audit rates have dropped for all income brackets between 2010 and 2019. Funding for the agency declined by more than 20 ...
CBS News

Millionaire? Here's how likely you are to be audited by the IRS.

The Biden administration has trumpeted its plans to crack down on rich tax evaders, funneling $46 billion to the IRS so it can ferret out money hidden by the ultra-wealthy. For now, though, the ...
Accounting Today

IRS tax audits may show unintended racial, ethnic bias

The Internal Revenue Service doesn't collect data on taxpayers' race or ethnicity, but some of its methods could lead to disparities in its audit rate, according to a new report. The GAO report ...
Accounting Today

Enhancing equity in tax audits

Each year on April 15, the Internal Revenue Service expects Americans to file their annual tax returns, and in doing so, Americans expect U.S. tax policy to be administered fairly across demographic ...
AOL

IRS tax audits ‘target and burden lower-income families,’ say tax experts

The underfunded Internal Revenue Service has been relying on ancient technology to generate paper audits that target tax benefits, such as the Earned Income Tax Credit, for lower-income households.
JD Supra

TTB Ramps Up Tax Audits and Enforcement

The Alcohol and Tobacco Tax and Trade Bureau’s (TTB) Office of Field Operations is responsible for ensuring industry members comply with the Federal Alcohol Administration Act, the Internal Revenue ...

Four areas likely to attract tax audits as CRA scrutiny ramps up

The real estate sector has long attracted the CRA’s scrutiny, but short-term rentals, in particular, are likely to be in the ...
Hoodline

Moreno Unleashes Sales Tax Audit Blitz On New Orleans Businesses

According to New Orleans CityBusiness, the city has completed or opened roughly 145 sales-tax audits in less than two months. Those reviews have flagged about $7 million in potentially uncollected ...