Audits Archives - Cozby & Company

IRS Announces Sweeping Effort to Restore Fairness to Tax System with Inflation Reduction Act Funding
Gallery
IRS Announces Sweeping Effort to Restore Fairness to Tax System with Inflation Reduction Act Funding

Audits, Compliance, IRS, Personal Taxes, Tax Law Changes, Tax Tips, Taxes

IRS Announces Sweeping Effort to Restore Fairness to Tax System with Inflation Reduction Act Funding

This article was published by the IRS. Capitalizing on Inflation Reduction Act funding and following a top-to-bottom review of enforcement efforts, the Internal Revenue Service has announced the start of a sweeping, historic effort to restore fairness in tax compliance by shifting more attention onto high-income earners, partnerships, large corporations, and promoters abusing the nation's tax [...]

cozbycpa2024-02-14T10:28:45-05:00February 14th, 2024|Categories: Audits, Compliance, IRS, Personal Taxes, Tax Law Changes, Tax Tips, Taxes|Tags: Cozby & Company, CPA Heather Cozby, Earned Income Tax Credit, Inflation Reduction Act funding, IRS dirty dozen, IRS expansion of pilot focused on leveraging AI, IRS prioritization of high-income cases, IRS scrutiny on FBAR violations, IRS use of artificial intelligence, Plymouth MA accountant|

Audits by Mail: What to Do
Gallery
Audits by Mail: What to Do

Audits, IRS, IRS Video, Personal Finance, Personal Taxes, Planning Strategies, Tax Tips, Taxes, Videos, YouTube

Audits by Mail: What to Do

The IRS conducts audits to verify income, deductions, expenses, and credits claimed on tax returns. Here's what to do if you receive a letter that says the IRS is auditing your tax return by mail. First, read the letter carefully. It explains the issues involved and outlines the types of information you need to send us. [...]

cozbycpa2023-06-19T10:31:39-04:00June 19th, 2023|Categories: Audits, IRS, IRS Video, Personal Finance, Personal Taxes, Planning Strategies, Tax Tips, Taxes, Videos, YouTube|Tags: Cozby & Company, CPA Heather Cozby, how to handle audits by mail, IRS document upload tool, IRS tax audits by mail, Plymouth MA accountants, Publication 3498-A, what to do if you disagree with the IRS' audit by mail|

Audits by Mail–What to Do?
Gallery
Audits by Mail–What to Do?

Audits, IRS, IRS Video, Personal Taxes, Tax Tips, Taxes, Videos, YouTube

Audits by Mail–What to Do?

The IRS conducts many types of audits each year to verify income and expenses claimed on tax returns. Many of these audits are conducted by mail. If you receive an audit by mail, be sure to read the letter carefully. The letter explains the issues involved and outlines the types of information you need to send [...]

cozbycpa2022-09-05T12:05:52-04:00September 5th, 2022|Categories: Audits, IRS, IRS Video, Personal Taxes, Tax Tips, Taxes, Videos, YouTube|Tags: best accountant in Plymouth MA, Cozby & Company, CPA Heather Cozby, how to respond to an IRS audit by mail, IRS audits by mail|

Here’s What Taxpayers Need to Know about Their Right to Finality
Gallery
Here’s What Taxpayers Need to Know about Their Right to Finality

Audits, IRS, Personal Finance, Personal Taxes, Tax Tips, Taxes

Here’s What Taxpayers Need to Know about Their Right to Finality

This article was published by the IRS. Taxpayers interacting with the IRS have the right to finality. This is especially for taxpayers who are being audited. This is one of ten basic rights —collectively known as the Taxpayer Bill of Rights. For taxpayers who are in the process of an audit, here's what they should know [...]

cozbycpa2022-08-03T10:52:54-04:00August 3rd, 2022|Categories: Audits, IRS, Personal Finance, Personal Taxes, Tax Tips, Taxes|Tags: Cozby & Company, CPA Heather Cozby, great tax accountants in Plymouth MA, how long can an audit last, how often can the IRS audit a taxpayer, taxpayer right to finality|

IRS Temporarily Suspends Some Collection Items
Gallery
IRS Temporarily Suspends Some Collection Items

Audits, Corporate Taxes, IRS, Personal Finance, Personal Taxes, Small Business, Tax Law Changes, Tax Relief, Tax Tips, Taxes

IRS Temporarily Suspends Some Collection Items

This article was published by the IRS. On February 10, 2022, the IRS announced it will temporarily stop mailing some automated collection notices. Which automated collection notices are suspended? The IRS will temporarily stop mailing the following individual and business automated collection notices: CP80, Unfiled return notice CP59 and CP759 (Spanish), Unfiled tax return(s) 1st notice [...]