IRS audits are stressful and costly. Learn best practices and tips that will reduce your chances of getting audited by the ...

An audit of the Internal Revenue Service found staffers destroyed 30 million taxpayer documents, as they faced a massive backlog. However, the tax collection agency says no taxpayers were adversely ...

Even once your tax return is turned in, do not run any documents through the shredder just yet. You will want to hang on to certain items, such as tax forms and supporting paperwork, in case of an ...

Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation. Concept image for filing federal income taxes online and being ...

A stock photo of a Red Audit stamp on a 1040 US individual income tax return. Photographed at 50mp with the Canon EOS 5DSR and the 100mm 2.8 L lens. The IRS wants you to “disclose” if you do not have ...

An audit occurs when the IRS chooses to review a taxpayer’s accounts and financial information to ensure the taxpayer reported all required income and followed all tax laws. The IRS typically audits ...

Taxpayers are typically worried they'll get audited for making mistakes on their returns, but audits are historically rare. The Trump administration reduced the number of IRS employees, so there is a ...

Today, the US Treasury Department announced that taxpayers will have the choice to go paperless for all Internal Revenue Service (IRS) correspondence in the upcoming 2024 filing season. By 2025, the ...

A comprehensive study conducted by economists from Stanford University, the University of Michigan, the University of Chicago and the Treasury Department resulted in a detailed report that concluded ...