Balin Accountancy Corp Client Resource Center

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Tips to avoid audit surprises and ideas to manage those surprises when they happen.

State Topics

Preparing Your Business for a Sales/Use Tax Audit

Small businesses across America are seeing sales and use tax audits. Why? Because it generates more tax revenue than the state's personnel expense to conduct the audit. Here are some suggestions to help make a sales/use tax audit less stressful. Read article

Planning

Seeing Inside the Mind of the IRS

There are certain areas of the tax code that the IRS wishes to focus its auditors' attention. These areas are typically identified by the IRS development of an Audit Technique Guideline to train its staff. Here are some key audit areas of interest. Read article

How do I defend Fair Market Value?

Determining the value of items on your tax return is always open to interpretation. You do not want that to happen to you during an audit as it can lead to additional tax and penalties. Here are some tips to help defend your Fair Market Value (FMV) determinations. Read article

Save Those Receipts and Documentation!

Too often during the course of an audit, the auditor throws out valid deductions. Not because they did not occur, but soley because you did not provide adequate documentation. Here are ideas to help solve this problem. Read article

How to Defend Your Deductions

Taking valid deductions on your tax return is your right. Defending your deductions is becoming harder and harder to do. Read this to make sure your deductions rule the day. Read article

Audit Target: The Sole Proprietor

Often the #1 target of IRS audits, sole proprietors need to be prepared with good records. Here are some tips. Read article

Lifestyle Audits. A thing of the past?

In the past if the IRS thought your lifestyle could not be supported by the income reported on your tax return, they could audit you. Is this practice now a thing of the past? Read article

Hints

Avoid Name Mismatch Audits

If you recently changed your name due to marriage or divorce, do not get caught in the nightmare of a rejected or changed tax return by the IRS. Read article

No Check! Where's Your Proof?

Very few banks return your cancelled checks. So what do you need to do if required by the IRS to prove your deductions? Often this means staying ahead of the game at year-end. Read article

Correspondence Audits. What Everyone Should Know.

In-person audits with an IRS agent are becoming more uncommon. The IRS is instead handling their reviews through form letters called correspondence audits. Here is what you need to know. Read article

Oops. I Wish I Knew That

There are a few areas within the tax code that can cause an unpleasant surprise when encountered. Thankfully they do not happen too often. Here are five you should know about. Read article

Ideas to Help Audit Proof Your Return

Here are some ideas to avoid some of the more common audit triggers. Read article

IRS Confirms Audit Notification Policy

At a recent Taxpayer Advocate Forum, it was discovered that some IRS auditors were initiating contact with taxpayers via a phone call. Given the tremendous increase in IRS phone scams, the IRS has confirmed it will not continue with this practice. Read article

Play the Match Game. Or Else...

One of the most common types of audits is a correspondence audit caused by reporting inconsistencies with information supplied to the IRS. Here is a tip to keep this from happening to you. Read article

I'm Being Audited!

Those dreaded words often lead to lost sleep and simple mistakes that could cost you money. Here are some tips to help you through the IRS audit process. Read article

Practical answers for your questions

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