How to Avoid an IRS Audit
"The length varies depending on the type of audit; the complexity of the issues; the availability of information requested; the availability of both parties for scheduling meetings; and your agreement ...
Journal of Accountancy18h
Deduction for theft loss and legal fees denied
The taxpayer failed to substantiate that a theft occurred or, if it did, its tax year of discovery for his investments in an ...
Home & Texture on MSN1d
Are HOA Fees Tax Deductible?
If you’re a homeowner, then you’re probably familiar with the HOA, or Home Owners Association. Whether you love it or hate it, it’s an essential part of owning a home. An HOA is essentially an ...
How The IRS Picks Tax Returns To Audit: A Tax-Law Expert Explains
We all fear IRS audits. But what is the IRS process of choosing tax returns to audit? In this Q&A series, I asked a tax-law ...
NHAI bars tolling agencies for ‘irregular activities’, refunds amount in 12.5 cases for wrong deductions
Fourteen toll collection agencies are banned for two years for irregularities in highway-user fee collection, with ...
Tax Guru14d
ITAT Ahmedabad Allows Deduction of GST Interest & Late Fees
Brief facts: The Assessing Officer made disallowance of ₹ 2,94,25,669/- on account of interest on GST and also disallowed GST late filing fee of ₹ 6,63,133 ... and hence the same are allowable as a ...
Investopedia16d
Are IRS Penalties Tax Deductible?
She has been in the accounting, audit, and tax profession for more ... and this interest is not tax-deductible. Fines and penalties a person owes to the government for violating local, state ...
Forbes19d
Audit Triggers For LLC Business Owners To Avoid
Understanding what not to do is crucial to avoid an audit. Below, I’ll share several ... that the IRS receives a copy for their own tax deduction purposes. Failure to report all income can ...
The Straits Times21d
Lower pre-school fees, review of family services: 8 key takeaways from MSF’s budget
SINGAPORE – Pre-school fees will be further reduced from 2026, and families in need will receive more financial assistance, along with increased subsidies for long-term care services for those ...
New York Post22d
Cuomo’s scandals have cost NY taxpayers whopping $60M and counting in legal bills: bombshell state report
New York taxpayers have coughed up a whopping $60 million in legal fees stemming from the scandals that ensnared Andrew Cuomo’s administration, according to a bombshell new state report that ...
i23d
Tourists in Spain to be hammered by tax rise as Balearics announce new fees
MADRID – Spain’s Balearic Islands are to increase their tourism tax and put a new levy on hire cars as the archipelago tries to contain overtourism. The islands’ regional government ...
Business Insider24d
Avoid these 4 red flags that could trigger an IRS audit this tax season
"Especially with today's remote working situation, the home office deduction also creates a lot of issues for audit purposes," Weisberg said. You can only claim your home office as a tax deduction ...