posted by Administrator on Nov 26
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A businessman definitely does not want to be tax audited. It almost always is nightmare they have to go through. There is no way of telling exactly how and when your company will be suibjected to tax auditing. And sadly, there is no way of knowing why you are the next to be audited. They just come and you better be prepared for them. There are a few types of tax auditing. We cant be sure of the reasons why we are going to be scrutinized by the IRS but a few factors can be credited to merit their closer monitoring of your financial matters. Such as corporate returns income report of more than $250,000, those people applying for home office deductions and some sole proprietors in businesses where additional income is generated from tips.