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Tax Liability Reporting Requirements Underpayment

Vinson & Elkins LLP

Civil Tax Fraud: Should 75 Percent Appear Too Small, Be Thankful the IRS Doesn’t Take It All

Vinson & Elkins LLP on

Mistakes happen, including when it comes to reporting and paying taxes. And for taxpayers and their advisors, those mistakes can lead to costly consequences, as the Internal Revenue Code (“Code”) allows the Internal Revenue...more

Foodman CPAs & Advisors

IRS can Prove that a Taxpayer Under-Reported Income

There are Taxpayers that understate income, overstate expenses and present fraudulent claims on their tax returns for credits and deductions.  These Taxpayers run the risk of being identified by the IRS and having IRS...more

Foodman CPAs & Advisors

Understanding how IRS identifies and selects Individual Tax Returns for Automated Underreporter Review

Foodman CPAs & Advisors on

The IRS Automated Underreporter Matching Process matches Tax Returns against Information Returns. IRS states that there were approximately 150 million individual tax returns filed in 2017 and about 25 million of them (17%)...more

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