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Category: Audit

What Will Happen If I Fail to Report Bitcoin Income?

Unreported bitcoin income

The IRS can assess back taxes, interest, and penalties for the failure to report Bitcoin Income.  The IRS has made Bitcoin tax compliance a priority as part of its Virtual Currency Compliance campaign.

3 Mistakes to Avoid During an IRS Audit

IRS audit mistakes to avoid

Representing yourself during an IRS audit can be a risky decision.  You’ll be at a major disadvantage because the IRS examiner understands tax laws and IRS procedures much better than most taxpayers.  Contact a tax audit defense attorney if you want help during the audit process.

Understanding the Types of IRS Audits

field audits, correspondence audits and office audits

The first reaction by most taxpayers when they find out they are being audited by the IRS is crippling fear.  An audit occurs when the IRS has reason to believe that the tax you paid is not what should have been collected.  The IRS wants to investigate how you calculated your tax due for the… Read more »

10 Documents you’ll need for an IRS tax audit.

  It’s a nice breezy day. You pick your mail up, excited because that vintage Captain America comic you ordered came in today. But, alas, instead of nerding out all afternoon, you find yourself under the covers, stressing out over a fast-approaching audit of tax your returns. Receiving a tax audit notification in the mail… Read more »

How Hiring a Tax Resolution Attorney Will Benefit You

how hiring a tax attorney will benefit you

  It is the right of the IRS to seek payment for debt you owe to the government, but it can be difficult going up against the IRS alone. Therefore, it’s in your best interest to take advantage of knowledgeable, experienced, and professional tax attorneys. Not only will you receive expert guidance, but it could… Read more »

Never Fight the IRS Alone

Fight the IRS

The Internal Revenue Service, popularly known as the IRS, is the revenue service of the United States federal government that is tasked with the collection of taxes and enforcing of the Internal Revenue Code (IRC). Annually, scores of citizens face an audit of their individual tax returns by IRS – sometimes randomly or often following any… Read more »

Why You Should Hire a Tax Attorney for Your Tax Audit Defense

Tax audit defense

Only a few occasions such as a visit to the doctor can invoke the same dread that you get when you have an upcoming tax audit by the IRS. Any taxpayer that has never been audited before can easily dismiss these fears as they are unsure of what to expect. However, this uncertainty can only… Read more »