Only one percent of all tax returns undergo an audit, reports The Motley Fool. If you’re one of the unlucky few, however, the process can
In recent months, the IRS has issued a number of alerts to make taxpayers aware of a constantly evolving array of scams designed to impersonate
Professional boxer Floyd “Money” Mayweather has reportedly resolved his tax bill of more than $22 million owed to the IRS, paid from his winnings from
The tax woes of Floyd “Money” Mayweather made their way into the spotlight earlier this summer, as ESPN reported that the undefeated professional boxer has
The IRS can request an audit up to six years after you file your business tax return. During your audit, you must prove that you
As of January 1, 2018, the IRS changed how it audits partnerships and limited liability companies. Intended to make partnership audits easier and more efficient
Just thinking about an IRS audit makes most small business owners feel their pulse accelerate. Horror stories abound, and many of them are true. The
As a self-employed business owner, you can deduct advertising costs, office supplies and entertainment expenses on your tax return. These and other deductions can trigger
In recent months, the IRS has issued a number of alerts to make taxpayers aware of a constantly evolving array of scams designed to impersonate
Last summer, the Washington Times reported that the IRS paid out more than $24 billion dollars in refunds for 2016 based on potentially incorrect or
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