With tax time right around the corner, many people are starting to get all their filing information together, such as receipts, donation records, bank statements, and 1099 forms. And while it’s important to make sure you have all the relevant documents so you can file your taxes correctly, it’s just as important to be sure […]
Have you ever wondered exactly where all your tax dollars go and/or are spent? There are several websites which try their best to break down the facts for you, and I even mentioned one called Death and Taxes here on My Two Dollars back in 2006. (It is no longer a live site, however.) But […]
Well, it finally happened — I unexpectedly received a rather large envelope stuffed full of paperwork from the IRS. My heart sank as I figured I would be dealing with an audit or something like that. When I opened the envelope the first thing I saw was that I supposedly owed taxes on unreported income […]
Even if you try to avoid tax audit red flags to avoid the attention of the IRS, the fact is that around 1% of all US taxpayers will be audited each year. While the IRS will usually only audit your tax return if they think they have found a glaring mistake and can collect money/penalties […]
Nobody wants to be audited by the IRS, period. Although only about 1% of taxpayers actually get audited each year, many worry that this year may be the year that they get chosen for an in-person meeting with an IRS agent. Audits are not chosen at random willy-nilly, but rather by a computer-generated score given […]
