Massachusetts Certified Public Accountant and Business Advisor
[View Article List] [Go Back]
Tax Tips are not a substitute for legal, accounting, tax, investment or other professional advice. Always consult with your trusted accounting advisor before acting upon any Tax Tip.
Tax Tips are not a substitute for legal, accounting, tax, investment or other professional advice. Always consult with your trusted accounting advisor before acting upon any Tax Tip.
Individual Audits Inch Up
In the "Data Book" covering the 2010 fiscal year—October 1, 2009, through September 30, 2010—the IRS showed that tax audits of individuals increased to approximately 1.1%, 0.1% higher than the rate for the prior year. Of those audits, 21.7% were conducted by revenue agents, tax compliance officers, tax examiners and revenue officer examiners, down from 22.9% in the prior year. The vast majority of the audits—78.3%—were correspondence audits, up from 77.1% in the previous year.
Moral of the story: It is important to stay on your toes. Comply with all the tax law requirements to secure the tax benefits you are legitimately entitled to receive.
Moral of the story: It is important to stay on your toes. Comply with all the tax law requirements to secure the tax benefits you are legitimately entitled to receive.
[View Article List] [Go Back]
TAX ADVICE DISCLAIMER: In accordance with IRS Circular 230, any tax advice included in this communication, including attachments, is not intended or written to be used, and cannot be used by you or any other person or entity, for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code or applicable state or local tax law provisions, nor may any such advice be used to promote, market or recommend to another party any transaction or matter addressed within this communication. If you would like such advice, please contact us.
Central MA CPA
888-313-5959
888-313-5959
How to Protect Your Company's Data from a Security Breach
A data security breach can occur due to hacking, malware, stolen computers, lost or stolen mobile devices, payment debit/credit card fraud, or emplo...
Fraud: It can happen to you
Fraud - Do you know how to detect it or protect yourself? Most of us want to believe the best of people and therefore we are naïve and believe it wi...