Tag: irs audit

Q & A and Tips on Accounting, Taxes and Personal Finance.
Five Steps To Take If You Are Audited

Five Steps To Take If You Are Audited

Getting audited is no one’s idea of a good time, yet you can minimize the stress if you take the right approach. Step 1: Understand why and when. While it’s possible you were selected randomly, it’s more likely you were selected for a specific reason. One example might be if your deductions for charitable donations […]

April 24, 2017 | By More
Understanding the IRS Audit Process

Understanding the IRS Audit Process

If you’ve received a notice of audit from the IRS, here’s a few things you should know to ensure that your experience is as painless as possible. The last thing you want to do is ignore the request for documentation. Even if you don’t have what’s being requested, you can avoid further problems and unnecessary […]

April 4, 2017 | By More
IRS Audit

IRS Audit

Why is the IRS auditing me? Did I cause my tax return to be audited? How can I prevent or at least minimize the potential of being audited? These are all questions that are asked when a taxpayer receives the dreaded letter from the IRS. Let’s start with what constitutes an audit by the Internal […]

February 22, 2016 | By More
IRS Notices – Do’s and Don’ts

IRS Notices – Do’s and Don’ts

Receiving a letter from the IRS can make your blood run cold. A smart response strategy can lessen the stress, but where to begin? David Leichter CPA of Pikesville Maryland discusses his experience with delinquent taxpayers, and offers some “do’s” and “don’ts” for dealing with the IRS. David: I’ve been working as an accountant for […]

February 9, 2016 | By More