Minimum Income Probes

IRS Audits for Cash Intensive Businesses: Part 1 – Minimum Income Probes

By madwire / October 27, 2018

What does an IRS Revenue Agent look for when auditing a cash-intensive business? The short answer is this: correct gross receipts and reasonable accuracy of deducted expenses. But this article focuses more specifically on how IRS examines for unreported cash. You will want to understand that the IRS tax audit process is not set in…

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