The IRS is underway with conducting audits of 35 §501(c)(3) hospitals, which it announced in June 2024, with a particular focus on “community benefit.” Targeted hospitals appear to be those who ...

An IRS audit examining nearly a decade of Microsoft financial reporting has found that the company owes $28.9 billion in tax for 2004 to 2013, plus penalties and interest, Microsoft said Tuesday ...

A view of the Internal Revenue Service building. (Chip Somodevilla / Getty Images) An IRS pilot program that uses artificial intelligence to select audit cases and identify noncompliance didn’t ...

A colleague recently was audited by the IRS. Do you have any tips for preventing an audit on my tax return? The word “audit” strikes fear in the hearts of most people. Audits are a common concern for ...

We are often asked how to prepare for an IRS audit. The first and most important thing to know is that speaking directly with the IRS is not in your best interest. IRS Revenue Officers (auditors) are ...

Being in business for yourself can be exciting, lucrative, and a great way to draw the attention of the IRS's audit division. The IRS has audited significantly less than 1% of all individual returns ...

Defense Secretary Pete Hegseth on Monday alleged that the Biden administration “rushed” an IRS audit of him after he was nominated, suggesting that the former administration ordered a politically ...

When taxpayers submit their returns this year, they will hope they have faithfully fulfilled their civic duties and can rest on their laurels — at least until next spring. But for millions of ...

The IRS announced it issued Publication 5125, Large Business & International Examination Process (LEP), which outlines a new examination process that will apply beginning May 1, 2016, to all taxpayer ...