Keeping Your Sanity (And Your Business Operational) In The Midst Of An Audit

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 have a business to run, though. How do you keep yourself sane and productive in the meantime? Hire Professional Help for the Audit Preparation Instead of handling your audit alone, […]

How IRS Debt Affects Credit— And What You Can Do

If the IRS audits you and finds you underpaid your taxes, the taxes themselves (along with any penalties and fees) don’t immediately impact your credit score, but how you pay that debt can cause those numbers to drop. How much you owe and how you choose to pay both impact your ability to borrow money […]

How To Prevent A Second IRS Audit

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 $100,000 had an IRS audit in 2014. If you’re one of those businesses, you know the frustration and stress an audit entails, and you definitely want to avoid the experience […]

Enduring an Audit Alongside Divorce: Survival Tips for the Double Whammy

Divorce and IRS audits are two of life’s most stressful life events. Unfortunately, one often follows the other. Like an evil version of chocolate meeting a nefarious version of peanut butter, the combination can be even more painful that the sum of its parts. About every 13 seconds, there’s a divorce somewhere in the United […]

Top 5 Craziest IRS Stories of 2017

2018 is finally here and so is tax time! Maybe you’re anxious to push 2017 out of sight and out of mind. But let’s first take a beat to reflect on the wildest news stories of the past year related to the Internal Revenue Service (IRS). Trump’s Returns Require Extra Security Tax returns are supposed […]

What Do You Do if You’re Being Audited, And Your Records Are in Shambles?

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 records in the trash, misplaced them when you moved or watched them float away during a flood? Take these steps as you recover your records and prepare for your audit. […]

5 Reasons to Solve Your IRS Issues in 2018

Putting off dealing with tax problems won’t make them go away, and it will probably make things worse. Possibly far worse. Most business owners don’t struggle with taxes because they set out to defraud the IRS. Some get involved in deals that go south and lead to massive cash flow problems. Others grow their companies […]

Audited By the IRS? Take These 4 Important Steps

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 be stressful, particularly if you’re self-employed. Take these steps immediately to handle the audit in a professional manner. Verify The Audit’s Legitimacy You may receive a phone call claiming you’re […]

How Much Does A Schedule C Audit Typically Cost, In Terms Of Money And Time?

You know your Schedule C audit will cost money and time, but how much will you pay? It will depend on the type of audit you face, the status of your records, and the professional help you hire. Use this breakdown to estimate your audit expenses. For audit representation, a Schedule C is considered a […]

IRS Scam Report Update

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 the IRS. Whether by email, phone or text, these scams usually have a single goal in mind: To impersonate the IRS for the purpose of stealing your information, money or […]