Being Audited by the IRS But Don’t Have Any Receipts?

Venar Ayar, JD, LLM (Tax) December 14, 2018 No Comments

IRS Record Keeping Guidelines The Internal Revenue Service generally advises taxpayers to retain copies of all tax returns and any relevant supporting documentation for at least the previous three tax…

5 IRS Audit Triggers and Tax Red Flags

Venar Ayar, JD, LLM (Tax) December 11, 2018 No Comments

Nothing strikes fear into the hearts of an American taxpayer like the word “audit.” But there really is nothing inherently bad about them. An audit is essentially a review and…

How Long Does an IRS Tax Audit Take?

Venar Ayar, JD, LLM (Tax) July 2, 2018 No Comments

The Internal Revenue Service regularly performs tax audits of both corporate taxpayers and individuals. Although tax audits are conducted year-long, they often spike during the few months after the tax…

IRS Special Enforcement Program: Cannabis Business Beware

Venar Ayar, JD, LLM (Tax) July 2, 2018 No Comments

Since the legalization of medical and recreational marijuana use in several states, owners and operators in the industry have seen a decent amount of financial success in their respective trades.…

7 Worst Things To Do In An IRS Audit

Venar Ayar, JD, LLM (Tax) June 22, 2018 No Comments

We get it. Tax audits can be nerve-racking, to say the least. And while there is a lot of information out there on what is appropriate to do, there isn’t…

How to Appeal A Tax Audit

Venar Ayar, JD, LLM (Tax) June 12, 2018 No Comments

Audits (which the IRS calls “examinations”) are the stuff of most taxpayer’s nightmares. When people think of tax audits, they automatically assume that some grey suit wearing IRS agent is…

Statute of Limitations for IRS Audits

Venar Ayar, JD, LLM (Tax) June 7, 2018 No Comments

The IRS generally has three years from the date a return is filed or due to issue a Notice of Deficiency. If this period has expired, the IRS can’t assess…

How International Wire Transfers May Trigger An IRS Audit

Venar Ayar, JD, LLM (Tax) May 9, 2018 No Comments

Making wire transfers is a convenient and fast method of moving funds electronically from one bank account to another. The process generally ensures a recipient’s access to funds within just…

How the IRS Audits Marijuana Dispensaries: What to Expect

Venar Ayar, JD, LLM (Tax) February 6, 2018 No Comments

Marijuana dispensaries are five times more likely to face an IRS cash business audit. In 1970, lawmakers approved Section 280E of the Internal Revenue Code as a punitive measure in…

How the IRS Audits Income for Cash Businesses

Venar Ayar, JD, LLM (Tax) January 30, 2018 No Comments

When treasury agents get the scent of unreported income in their nostrils, they always use a variation of the good cop-bad cop routine. Sometimes before they even drop the A-word,…

Category: IRS Audits

Being Audited by the IRS But Don’t Have Any Receipts?

5 IRS Audit Triggers and Tax Red Flags

How Long Does an IRS Tax Audit Take?

IRS Special Enforcement Program: Cannabis Business Beware

7 Worst Things To Do In An IRS Audit

How to Appeal A Tax Audit

Statute of Limitations for IRS Audits

How International Wire Transfers May Trigger An IRS Audit

How the IRS Audits Marijuana Dispensaries: What to Expect

How the IRS Audits Income for Cash Businesses

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