1. New Video Series Helps Ease Pain of an IRS Audit

    New Video Series Helps Ease Pain of an IRS Audit
    From Michael Periu, EcoFin Media: Few activities can be considered less desirable than an audit by the Internal Revenue Service.  Even a root canal may rank slightly above it.     Last year, 1.03 percent of tax returns filed were audited.  This represents over 1.4 million audits. Over 97 percent of these audits were for individual tax returns, leaving a small percentage for business audits.  For small corporations, only 0.85 percent of returns were audited, 0.4 percent of Subchapter S corporations, and 0.38 percent of partnerships were audited.  Even though the percentages are relatively small, it still represents nearly 50,000 business audits.   Most audits occur for a reason. They do not occur randomly.  Therefore it is possible to minimize your chance of being audited by preparing your tax returns correctly, even if it means paying for high quality tax advice.  One tool that can help you ...
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