• Surviving a Tax Audit

    Income tax audits are intimidating whether you are being audited personally or as a business owner. There is a right way and a wrong way to handle an audit by a state or federal taxing authority. It is easy to […]

  • Avoid These Tax Mistakes

    With the end of the year approaching, it’s a good time to talk about some tax mistakes that can be very painful. With a tax code as huge and as complex as ours in the United States, there are countless […]

  • Rules to Get Through a Tax Audit

    Tax audits are scary, especially if you’ve got unusual income or deductions. The assumption is that at the end of the process, you’re going to owe the government money. You can help yourself in the audit process, however, by following […]

  • How Many People Are Being Audited by the IRS?

    In this video, Tracy Coenen briefly defines and audit and how many people are being audited by the IRS. (Hint: A very low number of people are being audited, and people with higher incomes are much more likely to be […]

  • Fatburger and Johnny Rockets Family Under Investigation for Fraud and Money Laundering

    Andrew Wiederhorn, CEO of the company that owns Fatburger, Johnny Rockets, and Round Table Pizza restaurants is under federal investigation for securities fraud, wire fraud, money laundering, and tax evasion. What makes this story so interesting is that Wiederhorn already […]

  • Reconstructing Books and Records For a Tax Audit

    You are being audited. These are some of the most dreaded words an individual or business will ever hear from a state or federal tax auditor. They invoke fear, panic, and sometimes anger. Most of all, they create a need […]

  • Analyzing Business Tax Returns in Divorce Cases

    Tax returns can be one of the most important pieces of information a forensic accountant evaluates in a divorce case. Of course, there are other very important financial documents, but income tax returns provide summary information about of lot of […]

  • IRS Special Agent Fraud

    I had to write about this IRS special agent because his fraud story is so wild. Bryan Cho (aka Yong Hee Cho) was a Special Agent in the IRS Criminal Investigation Division since 2008. And now he’s been charged with […]

  • COVID-19 Coronavirus Stimulus Check Scams

    Coronavirus stimulus check scams have already started. This is shameful, but not entirely unexpected. U.S. taxpayers will be receiving payments of up to $1,200 per adult and $500 per child, with reductions for special circumstances. To receive a payment, you […]

  • IRS Audit Rates Keep Falling

    Accounting Today had an awesome article about IRS audits and the recent trends. The good news for taxpayers is that audit rates are down overall. In 2010 the audit rate was 0.9%, or 1.735 million tax returns. Last year it […]