Disclosure is a type of extra explanation. You are required to disclose enough detail to tell the IRS what you are doing. But ...

The Trump administration reduced the number of IRS employees, so there is a slight chance fewer audits will take place in 2025. Audit triggers include unusual deductions and losses, missing or ...

Analyzing filed tax returns against income reported to the IRS, the tool flags discrepancies that could trigger audits, allowing professionals to take corrective action in advance. Available to ...

Whatever the outcome, avoiding an IRS audit is crucial. But understanding your triggers can help you steer clear of unwanted scrutiny. From excessive deductions to offshore assets, there are ...

TaxGPT, the creator of the industry’s leading AI tax co-pilot, today introduced Agent Andrew—an AI agent that reconciles ...

The IRS uses automated systems and statistical ... According to Gallegos, audit triggers include: Large deductions that don’t align with reported income Substantial losses from businesses ...

Explore the intricacies of filing multiple tax returns, understand when it's permitted, the risks involved, and the ...