The IRS is underway with conducting audits of 35 §501(c)(3) hospitals, which it announced in June 2024, with a particular focus on “community benefit.” Targeted hospitals appear to be those who ...
Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation. Concept image for filing federal income taxes online and being ...
Every tax season, millions of Americans hunt for every legitimate break they can find. That's perfectly reasonable - and entirely legal. But some deductions carry more baggage than others, attracting ...
The IRS audits very few returns, but its computers can spot mismatched income, overstated deductions, and other errors, triggering IRS notices, reviews, and costly follow-ups. When people say they’ve ...
The IRS has issued new guidance to its Large Business and International Division (LB&I) in an attempt to expedite audits. The interim guidance, released on July 23, 2025, outlines procedural changes ...
What is the statute of limitations for an IRS audit? What rules extend the window for an IRS audit? How long does the IRS usually have to complete an audit of your taxes? Everyone may have a little ...
The June 20, 2024 report by the Treasury Inspector General for Tax Administration came as a shock to many. The TIGTA report explained that to meet an audit quota set in 2020, the IRS started examining ...
Retiring quietly doesn't always mean retiring stress-free, especially when it comes to taxes. Many seniors assume their IRS risk drops once they stop working, but new algorithm updates and financial ...
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