Audit Prevention-Tips on Good Recordkeeping Practices
An audit is an intrusive, invasive and often costly process. When a tax agency audits you, they are evaluating whether you accurately reported your income, expenses or deductions and whether you...
View ArticleTexas Trustee Faces Five Years for Tax Evasion
Randy Lynn White, of Lubbock, Texas, the sole trustee of the Frank F. McMordie Jr. Family Trust, pleaded guilty to tax evasion. According to court records, White was the administrator of the McMordie...
View ArticleIRS Problems-Agency Gets Audited by GAO
In the aftermath of this year’s IRS scandal, it appears the IRS could be on the receiving end of an audit. According to an Accounting Today article titled: GAO to Probe IRS Audits of Tax-Exempt...
View ArticleColorado Man Arrested for Tax Evasion Fraud and IRS Obstruction
Contractor Michael Destry Williams, 49, of Pueblo, Colorado was arrested on charges of tax evasion, illegal structuring, bank fraud and interfering with IRS laws. Williams was a self-employed general...
View ArticleIRS Encouraged to Increase Correspondence Audit Collection
If you think that audits will not increase due to IRS sequester budget cuts think again. A recent article from Accounting Today titled: “IRS to Increase Audits of Prior- and Subsequent-Year Tax...
View ArticleBusiness Audits Can Increase Due to Multi-State Workers
Most business owners do everything they can to prevent tax issues but it’s only possible to prevent what you know about. For example, some businesses may not be aware they are non-payroll tax compliant...
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