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IRS OK to Review Electronic Records for Audits

Submitted by admin on Thu, 4/28/2011 - 12:00 am

Future small businesses and self-employed individuals under audit should now be aware of this one, as it will hang all the laundry out there, hopefully the laundry is clean. The IRS is now beginning to request that businesses provide an...


Fraudulent Homebuyer Credits Total $513 Million

Submitted by admin on Wed, 4/27/2011 - 12:00 am

The IRS Treasury Inspector General has come to the conclusion that greater controls are needed over all refundable tax credits, in light of three internal audits that discovered the current IRS system “allowed potentially erroneous refunds of more than $513...