IRS Tax Audits – Know Your Rights Before An Audit Begins You can appoint someone to represent you in IRS proceedings. You usually can’t be forced to attend yourself. An agent must explain your rights before starting the audit process. The agency must abate any part of a penalty or extra tax that is caused […]
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IRS Tax Audits – Correspondence Audits
IRS Tax Audits – Correspondence Audits This type of audit is the least threatening. You’ll probably never see an IRS employee; it will all be handled through the mail. Such exams are typically limited to a few issues that you can clear up by mailing copies of bills, checks, receipts or other relevant documents. The […]
Internal Revenue Service Manual – Guidelines For IRS Agents
Internal Revenue Service Manual – Guidelines For IRS Agents The Internal Revenue Manual (IRM) contains the official compilation of all internal management documents of the Internal Revenue Service. If tax professionals study the IRM, they will be able to understand the working procedures of the IRS. In the third part of a three-part series, this […]
IRS Audits – Types of IRS Audits
IRS Audits – Types of IRS Audits The Three Types of IRS Audits – Hot, Hotter, Hottest CORRESPONDENCE AUDIT– The least threatening, most common audit. The entire matter is handled through exchange of letters and documents via mail. Such audits are generally limited to a few items or issues that can be easily proved by […]
IRS Audits – Office Audit Hints
IRS Audits – Office Audit Hints – Tips To Survive An IRS Audit Enduring An Office Audit IRS auditors do about five office audits a day – they wont have much time to prepare for you. You can make a sound recording, but you have to give the IRS 10 days’ notice. Other bits of […]
Investigating Money Laundering Schemes
Investigating Money Laundering Schemes Audit investigators should become familiar with the various fraud schemes associated with taking illegal money and disguising it as legitimate income. According to studies conducted by the Association of Certified Fraud Examiner’s, Fraudsters often devise complex schemes to integrate dirty money into legitimate money. Since these schemes are often complex, law […]