Possible tax deductions can arise in relation to a wide range of different activities. This includes activities related to real estate. One real-estate-related action a person may be able to claim tax deductions in connection to is the selling of their home.
The powers that the IRS has to collect on unpaid taxes may seem mythical and legendary; especially when it comes to how the federal government may seize property and freeze financial accounts. However, in recent years, this tactic has become a controversial measure given how quickly the IRS has acted to take money from small business owners and how it has failed to return such property.
If you are being audited, it is highly unlikely the audit would be in relation to your most recent tax filing in April of this year. Usually it takes the Internal Revenue Service some time before they take action on a filing. If they do take action, though, you need to be prepared for what will come. The process for dealing with an audit can be complex and difficult, but if you know what to do, you can complete the process in a compliant and efficient manner.