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Tag Archives: audit

Increase Audit Chance from IRS with New Budget Hike?

The Inflation Reduction Act is jam-packed with new provisions regarding many things, from climate change to energy usage, and what is most concerning for the public, the new $80 billion funding to the IRS. With this new funding, the IRS … Continue reading

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White House Says More IRS Funding Won’t Increase Audits for Lower Income Americans

On Monday, the Biden Administration received major backlash regarding concerns about the new $80 billion for the IRS in the Inflation Reduction Act package. The funding was intended to help the IRS crackdown on the collection of under-reported income … Continue reading

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IRS Audit Rates Halted – Particularly the Wealthy

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Big 4 Firms in SEC’s Scope Regarding Audit Independence

The US Securities and Exchange Commission is now probing potential conflicts of interest within big four firms which includes Ernst & Young, PricewaterhouseCoopers, Deliotte, and KPMG, as first reported by the Wall Street Journal.  The probe will focus largely on … Continue reading

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Sales and Use Tax Red Flags – Managing Your Audit Risk

It should come as no surprise that sales and use tax is one of the main revenue streams of state and local tax authorities across the country and that audits are the primary means by which to maximize that stream.  … Continue reading

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