SBOE: Why am I Being Audited? A government agency that business owners and operators are likely to be familiar with, but which may be wholly unknown to the average taxpayer, is the California State Board of Equalization. The State Board or BOE, as it is often called, has a variety of responsibilities which include monitoring
representing yourself at an audit
IRS Audit Reconsideration
The Internal Revenue Service (IRS) has the power to audit a taxpayer, and typically does so in a limited number of circumstances. The IRS will often audit high net worth individuals, taxpayers that claim huge charitable contributions, underreporting of income on the relevant tax form, taxpayers that claim huge business losses year after year, or
Understanding an IRS Audit
An IRS audit is a review of a business or individual’s tax return to ensure that everything was reported correctly in compliance with applicable tax laws. By law, the taxpayer is only required to pay the exact amount of tax owed, no less and no more. Consequently, if a taxpayer incorrectly reports his or her
IRS Income Tax Audits Explained
IRS Income Tax Audits IRS income tax audits explained. An income tax audit is an examination of a tax return. Depending on the nature and scope of the audit, an IRS examiner may look at just a few items on your return or they may look at your return in its entirety. If they determine
The Four Types of Tax Audits
Four Types of Tax Audits and Tax Compliance. Nothing is surer to elicit feelings of panic than receipt of a letter from the IRS and for good reason. Tax issues and penalties can have harsh and sometimes long-lasting impacts on an individual or business’s financial health. While some letters or notices aren’t cause for