Can Filing an FBAR Trigger an Audit?
You’re planning to file an FBAR (Reports of Foreign Bank and Financial Accounts). Will this action automatically get you audited by the IRS? Short answer:
You’re planning to file an FBAR (Reports of Foreign Bank and Financial Accounts). Will this action automatically get you audited by the IRS? Short answer:
Nothing may make your heart pound and your head throb like the notice of an IRS audit. Even if you know the precise location of
This time of year, most Americans are gathering income statements and preparing to file their returns. The good news for both businesses and individuals is
An IRS audit can monopolize your time, attention and emotions. But the process takes time—from gathering the documents to that actual office appearance. You still
The 2014 IRS Data Book reports that 1.9 percent of sole proprietors with income under $100,000 and 2.3 percent of sole proprietors with income over
To complete your IRS audit, you must provide supporting records that prove you filed an accurate tax return. But what if you tossed the supporting
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
Even accomplished business owners will want to bring an expert into a Schedule C IRS audit. The process can be scary and intimidating, and it
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
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
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