You’ve probably heard the expression that every cloud has a silver lining. Sometimes you can even find a silver lining in an IRS correspondence audit.
Your ability to deduct losses on Schedule C depends on whether the activity is a trade or business or a hobby operated primarily for your recreation and pleasure.
We recently received good news from our audit reconsideration request that the IRS reversed a tax assessment in excess of $200,000 for back taxes against our Boca Raton client. Needless to say our client was extremely happy with the outcome…
The Internal Revenue Service just announced it has rolled out a streamlined program designed to help small businesses under audit to quickly resolve their differences with the IRS.