Tag: Tax Audit

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If the IRS selects your tax return for audit (also called examination), it doesn’t automatically mean something is wrong. The IRS performs audits by mail or in person. The notice you receive will have specific information about why your return is being examined, what documents if any they need from you, and how you should proceed. Once the IRS completes the…

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New research finds the Internal Revenue Service (IRS) is aiming civil audits at low-wage earners, demonstrating a confounding approach to a group less known for tax fraud than those with greater wealth. The earnings gap in the U.S. and around the world continues to increase. Throughout the pandemic, the wealthy fared better than those buffeted…

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