Many taxpayers in the United States wonder if the IRS can audit them based on the amount of money in their bank accounts. The short answer is not exactly. The IRS does not initiate audits solely ...

No one wants to be audited by the Internal Revenue Service (IRS), as it can be a stressful and potentially expensive process. While there’s no sure-fire way to prevent an audit, knowing the steps you ...

The IRS is offering special Saturday hours on select days at taxpayer assistance centers in three Michigan cities for ...

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

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

The prospect of an IRS audit can be daunting for many American taxpayers. Despite the common fear, the truth is that only a ...

Every year, over 100 million Americans file their taxes for their household or themselves. Most of them go all out to do it by April 15, but the IRS can provide up to six more months (upon request) to ...

For most taxpayers, interactions with the IRS beyond the annual obligation to report income and other financial information is something to be avoided at all costs. IRS agents work tirelessly to sift ...

The IRS audits very few returns, but its computers can spot mismatched income, overstated deductions, and other errors, triggering IRS notices, reviews, and costly follow-ups. When people say they’ve ...

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 ...

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 ...

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) ...