Contractors face a higher risk of IRS scrutiny. Organizing records, analyzing discrepancies, and professional representation are key to a favorable outcome.

Tax administration is still a big task for the federal government every year. The Internal Revenue Service (IRS) processed more than 266 million tax returns in fiscal year 2024. It collected $5.1 ...

Most tax audits don't start because someone tried to cheat the system. Take it from me, I was audited three times by the IRS in my 20s. A good-faith error one year ...

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The tax cuts enacted last month aren’t the only good news for high-income taxpayers. The risk of an in-depth audit by the Internal Revenue Service is likely to ease this year, reversing a two-year ...

A stock photo of a Red Audit stamp on a 1040 US individual income tax return. Photographed at 50mp with the Canon EOS 5DSR and the 100mm 2.8 L lens. It is only natural to be worried about being ...

If you have received an IRS Letter of Notification advising you that your return has been selected for audit, the most important thing to understand is this: the audit has already begun. The first ...

From unreported income to large deductions, here are eight common red flags that could trigger an IRS audit — and how to ...

Audit rates dropped sharply -- down 46% -- between 2010 and 2018. The audit rate for individual tax returns went from 1.1% to just 0.6%, based on a Congressional Budget Office report. By 2022, the IRS ...

The Internal Revenue Service (“IRS”) audits 1% to 2% of small business income tax returns annually for one of two reasons: (1) something about the return (or information reported on the return) ...