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Tax Audit Archives - The SPSCPA Blog

Tax Audit

Does Extending Your Personal Income Tax Return Increase the Odds of an IRS Audit?

Personal Income Tax Extensions and IRS Audits, Los Angeles CPA

Rumor has it among our clients that extending your tax returns may increase the likelihood of an IRS audit.  Is there any truth behind it?  The fact of the matter is, there’s really no way to know for sure. Although the IRS releases information on audit rates based on income levels and types of tax returns, they have never released Read More »

What percentage are you? The 1%,12%, 28% or 99%?

Tax Percentage - Sobul, Primes & Schenkel CPA Los Angeles

IRS audits on the rise for high income individuals and corporations Recently politicians, protestors, and the media have been debating whether or not high-income individuals and corporations are paying their so-called “fair share” of taxes.Apparently this is also an IRS concern. Steven Miller, deputy IRS commissioner for services and enforcement wants to, “assure that those at the lower end of Read More »

The Wealth Squad Wants You!

Global Wealth - Sobul, Primes & Schenkel CPA Los Angeles

An introduction to the IRS’s busy new group The Global High Wealth Industry Group, also known as the “wealth squad,” is a team of experienced IRS specialists assembled  specifically to audit wealthy taxpayers. Depending on your point of view, this crack squad is either a scheme by the current leaders directed against the wealthy or a sincere plan to put Read More »