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The IRS Picks On the Little Guy

Tax audits of big companies have declined as the Internal Revenue Service shifts its attention to smaller businesses. Marie Leone, | US April 28, 2010 The Internal Revenue Service has cut the amount of time it spends auditing large companies by a third since 2005, while reducing the number of large companies audited by … Continue reading

Auditors crack down on ‘independent contractors’

  By Nancy Mann Jackson, contributing writer March 29, 2010: 9:31 AM ET ( — If your business uses independent contractors, get ready for new scrutiny. Hoping to boost tax revenue, the IRS and many state governments are cracking down on how companies classify their workers. When employers report wages for independent contractors on IRS … Continue reading

The Dos and Don’ts of Business Tax Audits

Elizabeth Blackwell 03/12/10 – 05:00 AM EST CHICAGO (TheStreet) – It’s the ultimate nightmare scenario for many business owners: a letter from the Internal Revenue Service informing them they’re being audited. Statistically speaking, it’s highly unlikely you’ll be subjected to a tax audit this year. But if you are, it doesn’t have to be a … Continue reading