Randolph Law Firm, P.C.

Audits Archives

What documentation do I need to provide in an audit?

A tax audit can happen to anyone. However, if you’re self-employed, you might have claimed deductions for your home office and a bunch of work-related expenses on your tax return. While these deductions could all be legitimate, they will likely give the IRS pause and force them to examine your tax return more scrupulously.

IRS may implement automatic tax penalty forgiveness program

Seventeen years ago, the IRS created a program designed to remove certain tax penalties for late payment or late filing. Individuals with no tax penalties for their previous three tax returns could be eligible. The program is called the First-Time Penalty Abatement program (FTA). This year alone, more than 1.35 million Americans could stand to benefit from it.

Tax avoidance and tax evasion: There's an important difference

In several of our previous posts from earlier this year, we examined how the IRS strives to distinguish between tax fraud and tax negligence. The first is considered criminal. The second tends to be treated as an error. Both can lead to hefty penalties. Though, while negligence might cost you financially, a conviction for fraud might well include the added consequence of time in prison.

Work with experienced attorney to navigate IRS investigation, P.3

In recent posts, we’ve been commenting on the importance of working with an experienced attorney to navigate the tax audit process. One of the reasons for this, we’ve pointed out, is smooth handling of an audit on the taxpayer’s part can help ensure that the IRS does not impose penalties that aren’t warranted by the facts of the case.

Work with experienced attorney to navigate IRS investigation, P.2

Last time, we commented briefly on the topic of tax fraud, and the kind of evidence IRS investigators look out for when there is suspected tax fraud. As we noted last time, tax fraud is different from tax negligence, and it is important for those under investigation to ensure they know how to navigate the audit process to avoid any appearances of fraud.

Work with experienced attorney to navigate IRS investigation

Previously, we began looking at the tax troubles of Mike “The Situation” Sorrentino, and his recent not guilty plea in charges of tax fraud. As we noted last time, there is a difference between tax fraud and tax negligence, and it is important for taxpayers who come under investigation to work with an experienced attorney to ensure their interests are protected in the process.

Those who own rental property must proceed with caution during tax season

Given that we are now mere days away from Tax Day 2017, those sitting down in their kitchens and home offices to finish their tax returns at the eleventh hour will want to make sure that they proceed with the necessary diligence.

Tax season means the possibility of an audit

It’s tax season. Some people are already done with their taxes while others are still compiling all their documentation. Most people take quite a bit of care when filing their taxes because they care about accuracy. It’s important to be diligent and take your time when sifting through your financial life during the last year. A small discrepancy somewhere could mean you receive an audit notice.

Surviving an IRS audit

There are two types of people in Nevada: those who dread tax time and those who work for the Internal Revenue Service. You probably fall into the former category, especially if you have received a notice in the mail that the IRS is going to audit your tax return. This means that the IRS is checking to make sure that the financial information you reported to the government is accurate.

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Randolph Law Firm, P.C.
6260 N. Durango Drive
Las Vegas, NV 89149

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