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The IRS has recently announced it is stepping up the examination and auditing of tax returns in an effort to increase compliance as well as tighten the multi-billion dollar “Tax Gap.”
High on the list of growing IRS audits will be self employed taxpayers who file a Schedule C (Form 1040) with their tax return. IRS estimates range from at least a 50% to a 74% increase in these taxpayer audits. (more…)
Here at our offices, we of course do taxes in a traditional way, albeit with the help of technology to make the process more efficient. And while Turbo Tax has helped some, technology can’t solve every problem or answer every question – particularly when it comes to taxes. (more…)
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