Contractors face a higher risk of IRS scrutiny. Organizing records, analyzing discrepancies, and professional representation are key to a favorable outcome.

Many taxpayers in the United States wonder if the IRS can audit them based on the amount of money in their bank accounts. The short answer is not exactly. The IRS does not initiate audits solely ...

We are often asked how to prepare for an IRS audit. The first and most important thing to know is that speaking directly with the IRS is not in your best interest. IRS Revenue Officers (auditors) are ...

From unreported income to large deductions, here are eight common red flags that could trigger an IRS audit — and how to ...

Your tax return could trigger an IRS audit if you're missing key tax forms, experts say. Here's a checklist of forms and when ...

This is the second in a series of conversations between US tax system insiders and experts on the status and problems of the ...

Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation. Concept image for filing federal income taxes online and being ...

The IRS audits very few returns, but its computers can spot mismatched income, overstated deductions, and other errors, triggering IRS notices, reviews, and costly follow-ups. When people say they’ve ...

One of the new realities for U.S. taxpayers includes the responsibility for managing an IRS correspondence audit. What should you do if you are contacted regarding any form of IRS audit? Did you know ...

The Internal Revenue Service detailed its plans Thursday to significantly ramp up audit rates of wealthy taxpayers and large corporations, using funds provided by the Democrat-backed Inflation ...