irs-audit.net
IRS audit - Chances of IRS audit Part 1
http://irs-audit.net/Chances_of_IRS_audit.html
Chances of IRS audit. Every year, people ask about their chances of IRS audit. You probably have heard that the chances of IRS audit is low overall. However, if your tax return sets of one or more IRS audit flags, your chances of IRS audit just multiplied. We will explore the chances of an IRS audit for tax payers. Chances of IRS audit for Low income tax payers. Low income tax payers are easier IRS audit targets. IRS record keeping guide. Information available to IRS. Evidence of criminal activity.
irs-audit.net
IRS audit - Information available to IRS
http://irs-audit.net/Information_available_to_IRS.html
Information available to IRS. This section of IRS audit information website deals with information available to IRS. The IRS has access to a wide variety of other documents and information during an audit other than the tax returns filed by the tax payer being audited. Knowing exactly what are the information available to IRS will help a tax payer avoid IRS audit and during IRS audit. The following are some of the common information available to IRS and the IRS employee conducting IRS audits. Not all of ...
irs-audit.net
IRS audit - IRS audit statistics
http://irs-audit.net/IRS_audit_statistics.html
IRS audit statistics show that only a small percentage of total tax returns the IRS receives a year get IRS audits. Moreover, IRS audit statistics show that tax returns filed in the western united states is more likely to be audited than those filed in the eastern united states . How likely is an IRS audit. Over time the number of IRS audits have decreased. One contributing factor of the reduced number of IRS audits is the reduced number of IRS tax auditors and IRS reorganization that resulted in red...
irs-audit.net
IRS audit - Selecting tax returns for IRS audit
http://irs-audit.net/Selecting_tax_returns_for_IRS_audit.html
Selecting tax returns for IRS audit. The IRS has many processes for selecting tax returns for IRS audit. There are several reasons why a tax return is selected for an IRS audit. Some of the reasons for selecting tax returns for IRS audit are outlined below:. Statistical analysis using DIF score system (DIF analysis). IRS special projects on various occupations or professions. Evidence of criminal activity that produces probable unreported income (drugs, gambling, prostitution, etc). Chances of IRS audit.
irs-audit.net
IRS audit - DIF score
http://irs-audit.net/DIF_score.html
The DIF score is the most widely used method for selecting tax returns for IRS tax audit. There are also other methods to select tax returns for IRS audit. Since DIF score is used often by the IRS raising IRS audit flags, we shall discuss how DIF score works to gain an understanding of the DIF score system. What is a DIF score? How is DIF score generated? An example of item on tax return used to compute DIF score is a loss on a sole proprietorship business (found on schedule C of the tax return). If ...
irs-audit.net
IRS audit - Letter Audit
http://irs-audit.net/letter-audit.html
The most common type of IRS audit is the letter audit or otherwise known as the correspondence audit. The letter audit is the most common type of IRS audit. If a tax case can be resolved with just a letter audit or a correspondence audit, then the taxpayer will not have to meet face-to-face with an IRS auditor. What is a letter audit? If a tax return is filed complete, with no missing information or tax forms (see before an IRS audit. If the mistake results in the taxpayer owing the IRS less money, then ...
tax-preparation-online.info
Tax Preparation Online-Home Office Tax Expenses
http://tax-preparation-online.info/Home_Office_Tax_Expenses.html
Tax Preparation online help - Home Office Tax Expenses. How to qualify for home office expenses deduction. To qualify for a tax deduction for home office tax expenses, your home office must meet two home office expenses deduction tests. Home office expenses deduction test 1: principal place of business test. You must use the home office exclusively as an office and:. Your home office must be the principal place of business;. Tax Preparation Online (home). Home Office Tax Expenses. Taxes on Sale of Home.
small-business-tax-help.com
Small Business Tax Help-Small Business Taxes
http://small-business-tax-help.com/Small_Business_Taxes.html
This Small Business Taxes section of the Small Business Tax Help website is a general tax help section for small business taxes. Information and resources in the Small Business Taxes section include tax help tips that are not included in the Small Business Tax Help section, the Small Business Tax Credits section of the Small Business Tax Deductions section. This Small Business Taxes section is the section for all other questions on small business taxes. Small business taxes resources.
small-business-tax-help.com
Small Business Tax Help-Small Business Tax Preparation Part 1
http://small-business-tax-help.com/Small_Business_Tax_Preparation.html
Small Business Tax Preparation. Small business tax preparation does not have to be complicated. However, as with all tax laws, small business taxes as well as personal taxes can be difficult to understand. A solid bookkeeping system can help your small business tax preparation as well as a good accountant and knowing basic tax laws for small businesses. How long to keep small business tax records? Basic taxes for small business tax preparation. Federal Employer Tax Identification Number. If your state ha...
small-business-tax-help.com
Small Business Tax Help-Tax Credit
http://small-business-tax-help.com/Tax_Credit.html
A tax credit is very important concept to small business owners and individuals because a tax credit allows tax payers to deduct the amount of taxes owed to the IRS. Tax credits are available to all tax payers regardless of income. For anyone who qualifies for tax credit, a tax credit can provide significant savings. What is the difference between a tax credit and a tax deduction? The most popular tax credits are:. Earned income tax credit or EIC or EITC. Federal excise tax refund credit.