Quick Observations thus far as we work through this Tax Season. 

Trends in Audits

  • We are seeing a decline in audits. This is mainly due to budget cuts at the IRS offices.  However there is a modest increase in audits for taxpayers making over $200,000 and a greater increase for incomes greater than $1,000,000.

Tax Scams

  •  Be on the look out for fake emails and phone calls from the IRS. This is a huge scam. The IRS does not communicate in this way.
  •  Speaking of fraud, more false tax returns are being filed at both the federal and state level.  If this happens to you, be patient. It can take some time to unwind.