Tag Archives: Tax Audits

IRS Tax Audits: Myths Vs Realities

Americans are terrified of tax audits, and for good reason; these ordeals involve a whole lot of paperwork and, in some cases, can lead to increased tax payments. That being said, a variety of misconceptions surround the auditing process, which might not prove as terrifying as you suspect. Below, we clarify a few common audit […]

The New IRS Partnership Audit and 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 for the IRS, the changes apply to any entity that chooses to be identified as a partnership when filing taxes. Let’s look at some key changes and how they might […]