Federal estate taxes have long since been a lucrative source of funding for the federal government.Read More
“Audit” is a word that can strike fear into the hearts of taxpayers.
However, the chances of an Internal Revenue Service audit aren’t that high. In 2013, the IRS audited 1.0% of all individual tax returns. And being audited does not necessarily imply that the IRS suspects wrongdoing. The IRS says an audit is just a formal review of a tax return to ensure information is being reported according to current tax law and to verify that the information itself is accurate.Read More