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

    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 stone, even though it follows a general path each time. A number of…Read More

  2. Tax Evasion – Advising Tax Clients

    Business tax clients often have secrets. When they become afraid, those same clients will share their secrets. Most serious tax preparers at some point receive a client’s questions about tax evasion. Tax return preparers are rarely charged with this crime related to their clients. However, tax professionals have a unique ability to advise their clients’ next steps. The federal crime of tax eva…Read More