The IRS can only conduct tax audits on fairly recent tax returns ... Education Tanza is a graduate of Elon University with a degree in print and online journalism, with a minor in Italian studies.

You may picture a tax audit like a scene in the movies: IRS agents in dark suits show up at your door and sift through boxes of papers. Instead, most tax audits are much less dramatic. They ...

An IRS audit is a review of your tax forms and financial documents to ensure that you filed your tax return correctly and followed applicable tax laws. "The purpose of the audit is to determine ...

Certain red flags in a tax return ... The IRS will match the reported items to a person’s return. If they see something missing, they will automatically conduct at least a letter audit.

However, controversy and concern surround the IRS' use of AI in identifying returns for tax audits. This is largely ... advice commissioned by national print publications. She believes knowledge ...

Each Form 1099 is matched to your Social Security number, so the IRS can easily issue a tax bill if you fail to report one.

In 2022, the Internal Revenue Service (IRS) set a target of increasing its revenue by $100 billion over the next decade. The plan is to achieve this by increasing the level of audits to ensure ...

The Internal Revenue Service (IRS) said around 1 million taxpayers will get up to $1,400 in a rebate in the coming weeks. The ...

Taxpayers can reduce audit risk by avoiding common IRS red flags, such as failing to report income and claiming excessive tax write-offs ... commissioned by national print publications.