BE PROACTIVE ABOUT AN IRS AUDIT One of the many goals business owners have is to avoid an IRS audit at all costs. However, audits happen less frequently than you may think. Audit rates are at a historical low, with only 0.6% of individuals being audited for the 2018 fiscal year. Although this is good news, there is no guarantee that your business won’t be picked for an audit. Businesses, … Read more
Consumers and Tax Professionals Targeted in IRS E-mail Scams If you get a random e-mail from the IRS concerning a tax fraud…delete it. The IRS has seen an approximate 400% surge in phishing and malware incidents this past tax season. There are a variety of different types of emails but a couple of the most common ones that have been seen are listed below. 1. Emails designed to … Read more
ID Theft Common Situations & Frequently Asked Questions Identity theft occurs when someone uses your personal information, such as a Social Security Number (SSN), without permission to commit fraud or other crimes. There are two forms of tax identity theft: refund-related theft and employment/income-related theft. You should report both to the IRS. Common Situations Example 1: Your refund was stolen You mailed your Form 1040 on April 15. A month later, you received a letter from the IRS stating … Read more
