On November 2, 2015, President Obama signed the Bipartisan Budget Act (B.B.A.) of 2015, which included a new federal audit regime for businesses and entities classified as a partnership...
You are most likely familiar with the term "Audit." You may have even used it often in a statement. What exactly is an audit, and how is it done?Every organization is governed...
The Internal Revenue Service takes time to make sure your tax situation is up to date. The tax code allows the IRS three years to verify the tax return and ten years to collect the...
Of all the tax returns submitted in 2019, only 0.4% were audited, and 80% of the review was done via mail. This rate has dropped significantly in consequent years, and the COVID-19...