Business IRS Audit FAQs

Business IRS Audit FAQs

Click on any of the Business IRS Audit FAQ's below to see and hear tax attorney William Hartsock, Esq answer your question in a short video:

Find answers to the most frequently asked questions about IRS audits from a tax attorney with over 25 experience successfully representing clients before the IRS.

Personal IRS Audit FAQs

Personal IRS Audit FAQs

Click on any of the Personal IRS Audit FAQ's below to see and hear tax attorney William Hartsock, Esq answer your question in a short video:

Find answers to the most frequently asked questions about IRS audits from a tax attorney with over 25 experience successfully representing clients before the IRS.

The IRS is Auditing Streamlined FBAR Submissions. What Your Must Know.

Risk Of Prosecution For Tax Evasion

Are You at Risk For Tax Evasion Prosecution?

Understanding the Tax Evasion Statute.  

Tax evasion is the most commonly prosecuted federal tax crime.  Defined in 26 U.S.C. § 7201, tax evasion is a failure to report taxes, failure to report taxes accurately, or the failure to pay taxes.  If the IRS proves its case for tax evasion against a taxpayer, the penalties can be significant including monetary fines and jail time.
 
10 IRS Audit Red Flags

10 "Red Flags" that Can Trigger an IRS Audit

If any of the below applies to you or your business, your tax return will potentially be flagged for an audit. It is important to note that just because one or several red flags exist on a taxpayer’s returns, that doesn’t mean they will be audited. However, there are certain things that make one’s risk of an audit increase exponentially, by piquing the IRS’s interest.
 
Salesperson Independent contractor or employee

Do You Call Your Salespersons Independent Contractors?

They Might Be Employees, and You May Be in Hot Water with the IRS

 
FBAR requirements Purpose and Definitions of The Report of Foreign Bank and Financial Accounts

W-T-FBAR?

Requirements, Purpose and Definitions For Reporting Foreign Bank and Financial Accounts (FBAR)

 
The FBAR filing requirement is imposed upon taxpayers through the U.S. Treasury. Under Treasury regulations, any United States person who has a financial interest in a bank, security, or other financial account in a foreign country must make an FBAR filing annually, for any such account. 
 
IRS worker classification

Are You Sure You’ve Classified Your Workers Properly?

The Safe Haven and Voluntary Classification May Save Your Business From the IRS.

 
Recently, under the Trust Fund Recovery Act (TFRA), the IRS has made it a priority to target businesses which misappropriate funds collected from employees for the purpose of paying payroll taxes. The risk is not limited to losing one’s business, the IRS can impose personal liability and criminal charges upon any “responsible person” for a business’s failure to pay payroll taxes. 

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