New Report: Large Partnerships can be Difficult for IRS to Audit

On behalf of Frost Law posted in on July 28, 2014.

These days, it is increasingly rare to find a business partnership that consists of two doctors, lawyers or financial professionals setting up shop together. The Government Accountability Office defines a large partnership as having at least $100 million in assets and at least 100 direct and indirect partners. Over the last few years, the number […]

Tags: Blog, Audits

Received an Audit Letter? Don’t Panic.

On behalf of Frost Law posted in on May 26, 2014.

For many individuals who reside in the Washington, DC, metro area, completing their taxes one of the most stressful times of the year. While many likely heaved a sigh of relief once the documents were complete, the matter may not be over for some. According to president of Surevest Wealth Management, about 1 percent of […]

Tags: Blog, Audits

IRS Says Chances of Return Audits Lowest in Years

On behalf of Frost Law posted in on April 24, 2014.

The head of the Internal Revenue Service says his people will keep going after what he calls “the worst of the bad guys.” But the effort that has typically been put into doing that job is not going to be as vigorous as in most recent years. The agency says it’s going to have fewer […]

Tags: Blog, Audits

Man Launches Selfies Strategy in Case of an IRS Audit

On behalf of Frost Law posted in on March 21, 2014.

There aren’t likely many U.S. taxpayers who would welcome a bit of inquiry from the Internal Revenue Service. IRS audits are not fun and have a way of draining the target emotionally and financially. Those are the reasons why anyone embroiled in a controversy over taxes and facing an audit is wisely advised to seek […]

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Transparency’s Role in Avoiding a Divorce Redux by IRS Audit

On behalf of Frost Law posted in on February 10, 2014.

Divorce is not always a negative and contentious experience. Every divorce, though, tends to be burdened by some emotional upheaval. That’s not a feeling anyone in Maryland wants to revive after a divorce is final, but an Internal Revenue Service audit has a way of doing just that. Not every tax return filed by a […]

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IRS Audits to be on Hold if Government Shuts Down

On behalf of Frost Law posted in on September 30, 2013.

It doesn’t seem to matter which side of the aisle one sits on in Congress, or at what spot on the political spectrum a lawmaker stands; no one is coming out and saying they support the idea of a government shutdown. And yet, the prospects of avoiding such an event horizon don’t seem very likely. […]

Tags: Blog, Audits, IRS

Sequester’s Possible Silver Lining: Fewer IRS Audits

On behalf of Frost Law posted in on April 12, 2013.

As we have noted in past posts, the prospect of an audit is not one that is looked upon with relish. At the same time, it’s not something that most readers in the Maryland, Virginia and District of Columbia areas necessarily need to be too worried about. Only a small percentage of all returns are […]

Tags: Blog, Audits, IRS

Complex Tax Code Can Mean Filing Errors; Create Audit Anxiety

On behalf of Frost Law posted in on March 14, 2013.

The concept of taxing is fairly easy to comprehend. In its simplest form, taxes are the charges the government makes on its people in order to pay for the services it provides. Over the 200-plus years the United States has been around, the tax code that lays out what individuals and businesses must pay has […]

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IRS Audits Not Always Random: Some Tips On Reducing Risk

On behalf of Frost Law posted in on February 7, 2013.

Any fans of Monty Python out there? There are certainly a few in the Washington, D.C., area. If you are, you may remember one notable skit by the British comedy troupe called “The Spanish Inquisition.” The catch phrase of the skit is, “No one expects the Spanish Inquisition!” What follows is a skit-derailing explanation about […]

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Nonprofit Web Browser Foundation Out From Under IRS Audit

On behalf of Frost Law posted in on November 30, 2012.

There’s a reason why the notion of an Internal Revenue Service audit tends to send shivers up the spine. They can be horrendous to undergo. It doesn’t matter if you happen to live in the Washington, D.C., area or are on the other side of the country. Besides the emotional stress that can be generated, […]

Tags: Blog, Audits