How Far Back Can IRS Audit?

How long before I can be sure I am safe from the IRS

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 …

Read more

Eight Tax Return Items That May Attract IRS Audit

irs audit letter

irs audit letterIRS 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 

Read more

What does Being Audited by the IRS Mean ?

what is an irs audit

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.

Read more

 Best Tax Tips & Calculators

Stay updated with all latest on US tax law !
Malcare WordPress Security