IRS increases audits
As part of its plans to increase audit coverage, the IRS will be doing more correspondence audits – notices mailed to taxpayers that typically focus on a single item on the tax return. Correspondence exams can be as simple as asking about a tax return data discrepancy or requesting a missing form. But the IRS is also using these audits to focus on other issues, such as employee business expenses, the earned income credit, charitable deductions, and the tax credit for buying a home.
If you receive an IRS notice, don’t ignore it. Let us know about it right away. The problem can be resolved in less time and with less fuss if an experienced professional is involved right from the beginning.