IRS Audit

The chances of IRS audit are down but you should still be prepared

2018 Tax Return, AGI (Adjustable Gross Income), Bookkeeping, Charitable, Documentation, Doucment Retention, Internal Revenue Service / Douglas Freeman

The IRS just released its audit statistics for the 2018 fiscal year, and fewer taxpayers had their returns examined as compared with prior years. However, even though a small percentage of tax returns are being chosen for audit these days, that will be little consolation if yours is one of them. Latest statistics. Overall, just […]

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IRS Audit Techniques Guides provide clues to what may come up if your business is audited

Audit Techniques Guide (ATGs), IRS Audit, Small Business, Tax, Tax Audits / Douglas Freeman

IRS examiners use Audit Techniques Guides (ATGs) to prepare for audits — and so can small business owners. Many ATGs target specific industries, such as construction. Others address issues that frequently arise in audits, such as executive compensation and fringe benefits. These publications can provide valuable insights into issues that might surface if your business

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