Preparing Business Tax Returns That Avoid IRS Scrutiny and Audit Red Flags
The recently passed Inflation Reduction Act provides an additional $80 billion in funding for the US Internal Revenue Service (IRS) over the next decade, expected to translate to a big surge in IRS agent hiring and a significant increase in tax return auditing.
While more auditing is good for the government, since it generates more tax revenue, it’s not so good for the business community. It means the quality of your returns needs to be much higher to reduce the risk that you’ll face a time-consuming, costly audit.
This guide is designed to help you understand the factors driving the increased audit risk for business owners, how to ensure your business tax return is prepared properly, how to avoid the red flags most likely to trigger a tax audit, and how to choose a tax professional that can go beyond tax preparation and provide proactive, strategic guidance year-round.
Read our guide to learn:
- Common red flags in a business tax return that are likely to trigger IRS attention
- A checklist of information to review in your business tax return
- Common, costly tax return mistakes to avoid
- Strategies to optimize your business tax credits and deductions
Download the White Paper
Other Tax Resources
With No SALT Cap Repeal in Sight, It Pays to Know if Your State Offers a Workaround
Ever since the Tax Cuts and Jobs Act of 2017 placed a cap on the amount of state and local taxes (SALT) you can take
10 Documents to Save for Tax Season
Preparation is the Key Alexander Graham Bell once said, “Before anything else, preparation is the key to success.” He had to be talking about tax
How to Manage Your Sales Tax
The world of tax can be extremely confusing, with rules differing between states, but getting it right is crucial to your company’s success. As your
23 Tips to Keep Money in Your Business Heading into Tax Season
Filing your business’s taxes can sometimes feel like a necessary evil, making tax season a very stressful time for a small to midsize business (SMB)
