Robert J. Fedor, Esq., L.L.C.

Audits Archives

Is your company at risk for an Affordable Care Act related audit?

Although the future of the Affordable Care Act may be uncertain, the bulk of the law’s new reporting requirements are still in effect. What’s more, even a modification or partial repeal of the ACA would likely not have retroactive effect. That means that companies may have valid fears about an ACA-related tax audit, at least for the foreseeable short-term.

Small businesses and owners frequently targeted by IRS

Small business owners often make many financial and personal sacrifices to ensure for the growth of their business. Starting a business is a complicated process and requires that an individual is not only knowledgeable about their specific market, products and services, but also about financial matters.

Advice on how to effectively communicate with the IRS

Given the agency's reputation for being the epitome of an inflexible bureaucratic institution, it's no wonder that many Americans dread dealing with the IRS. However, throughout the course of one's life, it's very likely that an individual will at some point be forced to deal more intimately with the IRS.

What to do when a letter from the IRS arrives in the mail

As American taxpayers breathe a sigh of relief that another April tax deadline has passed, some will soon begin receiving unwelcome inquires from the Internal Revenue Service. Perhaps few articles of mail are more dreaded than a letter from the IRS. In some cases, the IRS may contact a taxpayer requesting more information or ask for clarification related to a portion of their tax filings. In other cases, a letter from the IRS may be to communicate notice of an IRS audit.

Red flags in taxes may lead to audits from the IRS

People have their own way of filing their taxes. Some file as soon as they have all of their information, while others wait until the last possible day to get their taxes in. Along these same lines, some go to a tax preparer, while others electronically file on their own at home. Either way though, whether someone filed as soon as possible, or spent April 15 running around their home looking for that one last 1099 form, experts estimate that individual filers have roughly a one in 100 chance of ending up being audited. 

Despite budget cuts, IRS will continue to scrutinize small business owners and wealthy

With the 2013 tax year now in American's rearview mirror, agents from the Internal Revenue Service are busy analyzing data to ensure the numbers match up. In cases with the IRS identifies discrepancies between an individual's reported income and claimed income, the IRS may choose to perform an audit. Thankfully for most Americans, today the chances of an individual taxpayer being selected for an IRS audit are less than one percent.

Tardy taxpayers advised to file for extension

It's been a chaotic and stressful last few months. Your father passed away in January and you welcomed your third child into your family in February. On top of everything, your demanding job asked you to return to work after only six weeks of maternity leave and you've been struggling with the loss of your loved one while also trying to tend to your family and meet important work deadlines. One day, you and your husband look at the calendar and realize that it's April 10 and taxes are due in a mere five days.

Consistency may be key to surviving an IRS inquiry or audit

The weeks leading up to the April 15 tax deadline are often a time in which both individuals and business owners scramble to organize financial information and prepare tax-related documents. For many, in addition to ensuring the tax deadline is met, extra effort is made in an attempt to avoid an IRS audit.