What Triggers An IRS Tax Audit? | Dallo Law Group What is an IRS Audit? An IRS audit is a review or examination of an organization's or individual's accounts and financial information to ensure the information reported is correct according to the tax laws and to verify the reported amount of tax is ...

Power. Some of us have it and most of us fear it. But we fear power most when an entity can yield it over us. Most times when someone receives a letter from the Internal Revenue Service (IRS), their heart skips a beat, heart palpitations begin, and clammy hands take over. Why do we fear the IRS? Pow...

IRS Targets Crypto Investors Naturally, as with any income, crypto transactions have become a keen target for the IRS tax collectors.  Taxpayers have reported receiving a series of IRS “warning letters” going out to people who the agency believes have misreported their income from these exch...

The 20% Pass-Through Tax Deduction for Business Owners Tax season is once again looming over all of us. To complicate matters, the Tax Cuts and Jobs Act (TCJA) has established some new sets of rules, which are imperative to understand. In particular, if you happen to be a small business owner,...

E-COMMERCE & CALIFORNIA SALES TAX California Department of Tax and Fee Administration’s Letter The California Department of Tax and Fee Administration (CDFTA), which administers California’s sales tax collection, has recently begun to send out letters to users of the “fulfillment by ...

Strategies for Criminal Tax Investigations Any IRS audit or examination that potentially involves fraud could eventually be investigated by the IRS’s criminal division. These investigations are serious and can involve substantial penalties and jail time. Whether you are being investigated for a...

What Happens After An IRS Audit? We all know that an audit is an emotional rollercoaster. It would not be farfetched to experience feelings of dread and anxiety at various intervals during the process, which could last many months and even years. Most of these emotions, although well founded, could...

Are You Being Audited by the IRS? While the chances of being audited by the IRS are slim, most taxpayers fear the day that the IRS comes would come knocking on their door advising that they have been selected for an audit.  While there is no way to ensure that the IRS audit process will be...

What is a CP-2000 Notice? If you have received an IRS CP2000 Notice, the IRS has reviewed your tax return and has reason to believe that you have underreported income on your tax return.  Because failure to address this letter may have serious and adverse consequences, including potential bank ...

While your chances of being audited are slim, the IRS does go after people.  According to a reliable source, there is a 1% chance that you will be audited.  However, if you brought in more than $200,000 in 2013, your chances jump to around 3% and then increase to about 10% if you made more than a ...