Your next audit may be an “audit lite” – The IRS is handling more reviews with form letters In-person audits with an IRS agent are becoming more uncommon. The IRS is instead handling their reviews through form letters called correspondence audits. Here is what you need to know. In-person audits with an IRS agent are becoming more uncommon. The IRS is instead handling many routine reviews through form letters called …Read More
Tag Archives: IRS Audit
IRS Automated Audit Programs Working Well – Programs aid in $2.9 Trillion 2015 tax revenue
IRS Automated Audit Programs Working Well – Programs aid in $2.9 Trillion 2015 tax revenue Each year the IRS releases a Data Book that recaps Internal Revenue Service activities for the prior fiscal year ending in September. The 2015 Data Book was recently published which recaps the 2014 tax year. Here is what you need to know: Each year the IRS releases a Data Book that recaps Internal Revenue Service …Read More
Chances of Audit Continue to Drop – What you need to know
Chances of Audit Continue to Drop – What you need to know The IRS continues to use their audit department as a poster child to try to get more funding. The result can be seen in their declining audit rates. But do not be fooled. Here are the most recent IRS audit statistics for your review. You can be audited the later date of either three years after the filing …Read More
IRS Notices with Interest Calculation Error – IRS to send out special mailings
The IRS recently announced it send a number of Form CP2000s out to taxpayers with interest rate calculation errors on them. Please be aware of the problem. Noted here is a copy of a recent interest error calculation announcement made by the IRS. If you recently received a form CP2000 from the IRS please be aware an adjusted, higher interest amount may be owed. The IRS alerted taxpayers and tax …Read More