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While the IRS conducts hundreds of thousands of audits every year, if you are being audited, this is far from a routine situation. If you are not careful, your IRS audit could lead to substantial liability; and, depending on what the auditors find, it could potentially even lead to allegations of criminal tax fraud. Here US International Tax Advisors discusses five critical mistakes to avoid if you are being audited by the IRS.

The IRS’ Voluntary Disclosure Practice is a “compliance option” for U.S. taxpayers who are at risk for federal prosecution due to the commission of tax crimes and certain tax-related offenses. If you believe that you may be guilty of a federal crime, taking advantage of the Voluntary Disclosure Practice could be a good option. However, there are major risks involved in voluntarily disclosing criminal activity to the IRS; and, in order to protect yourself, you will need to rely on the advice of an experienced Maryland voluntary disclosure attorney.

If the Internal Revenue Service (IRS) is auditing your 2020 tax return, there are some important steps you need to take, and there are also some critical miscues you need to avoid. While it is possible to resolve an IRS audit without additional liability in many cases, an audit can also lead to additional tax plus interest and penalties, and it can potentially trigger a criminal tax fraud investigation as well. In order to avoid unnecessary consequences, you need to rely on the advice of an experienced Maryland tax lawyer, and you should schedule an appointment to speak with a lawyer as soon as possible.

For small business owners in the United States, complying with the federal income tax reporting and payment obligations can be burdensome, but it is also extremely important. The IRS audits countless small businesses every year; and, with the recent formation of the Small Business/Self Employed Division’s Fraud Enforcement Office, small businesses can expect to face enhanced scrutiny in 2020 and beyond.

The Internal Revenue Service (IRS) has announced the formation of a new office that will specifically target small business tax fraud. The Fraud Enforcement Office, housed within the IRS’s Small Business/Self Employed Division, will begin working with IRS Criminal Investigations (CI) and the IRS’s civil enforcement divisions in 2020.