IRS audit – Internal Revenue Code Simplified

How Far Back Can IRS Audit?

November 3, 2020November 2, 2020 by Prashant Thakur

One of the most common queries of taxpayers is: How long before I can be sure I am safe from the IRS ? Basically, he is asking ” How long before he can consider himself safe from the IRS”? The answer to such a question can not ever be absolute, because the way Internal Revenue …

How to handle cp2000 notice?

October 29, 2020 by Prashant Thakur

Here is best way to deal with CP2000 notice

Eight Tax Return Items That May Attract IRS Audit

February 6, 2019 by Prashant Thakur

IRS scrutinizing your tax return can be very annoying, anxiety prone and a matter of tension for tax payer costing money and time . You can read what does being audited by the IRS mean? It is seen that the first clue or doubt that is responsible for selection of your tax return for Audit by IRS, actually emanates from your tax return data. So, as the tax season has started and you may be preparing for filing tax return , it is important that you do not commit certain errors that , unnecessarily , puts your tax return in doubtful category by the computerized system that selects a very small percentage of tax return for IRS audit or scrutiny . Here are most common reasons for IRS audit triggers

What does Being Audited by the IRS Mean ?

January 30, 2019November 12, 2017 by Prashant Thakur

Really every taxpayer has this question ” what does being audited by the IRS mean? in his/her mind . Psychologically taxpayers are generally scared of tax audit. The IRS audit of your tax return is nothing but close scrutiny of your income declaration and the claim of exemptions and various tax deductions. The IRS checks whether the claim is correct and as per the US Code 26 and other Rulings.