Most Americans well note the investigatory power and enforcement clout of the Internal Revenue Service. Indeed, many millions of people go into heightened-stress mode whenever they think of the IRS.
Just consider for a moment who's sitting on the other side of the table from you if you're cloistered in a room with an Internal Revenue Service employee undergoing a tax examination.
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.
When you picture an IRS audit, you probably imagine a giant government agency going after the "little guy:" An average American who just wants to live and work in peace. Sadly, many everyday Americans do get audited by the IRS, especially those trying to run a small business.
Earlier this week, we began a discussion about your rights when dealing with the Internal Revenue Service. Many Americans think of the IRS as a bully who can shake you down for money, but this isn't the case.
The Internal Revenue Service is perhaps the most maligned of all government agencies. While some of this comes with the territory (people don't like paying taxes), the IRS has also earned much of its bad reputation. Many people view the agency as bureaucratic, authoritarian and uncompromising.
Most people know that once a year, they are required to submit documentation to the federal government as well as the state for their tax return. They also know that if they fail to report things properly, they could be audited by the IRS and suffer penalties as a result.
Before you get too excited by the headline on this post, take a breath. It is a fact that the head of the Internal Revenue Service recently reported that his agency will be conducting fewer audits than usual this filing season. But they are not going away by any stretch of the imagination.
Any person who has had to deal directly with the IRS likely knows that it can be a scary and stressful experience. In fact, even people who have never gone through anything like an audit probably know that dealings with the IRS are generally something they want to avoid.
Conservative news agency Breitbart News Network is reportedly speaking out against the Internal Revenue Service’s decision to subject the network to a tax audit. The subject of the audit is the company’s 2012 financial information. Sources say that it isn't clear whether the audit of the company is a matter of course or extraordinary, but Breitbart is convinced it is politically motivated.