IRS unveils new People First Initiative

IRS People First Initiative provides relief to taxpayers. IRS unveils new People First Initiative; COVID-19 effort temporarily adjusts, suspends key compliance program.  Due to COVID-19, the IRS is providing relief on a variety of issues as part of the People First Initiative. The IRS is modifying certain activities through the filing and payment deadline, Wednesday, July 15, 2020. Here’s what people need to know about relief related to IRS exams or audits Field, office and correspondence

Understanding why you received a notice from IRS

It is possible that this year, certain taxpayers will receive a CP2000 notice from the IRS. The Notice provides detailed information about problems identified by the IRS. Here is some information to help you understand why you received a notice from the IRS and what you can do: The IRS sends a CP2000 notice to the taxpayer when the information on a tax return does not match the data reported to the IRS by banks

Will Your Tax Return be Audited?

Will Your Tax Return be Audited? Few things are more unnerving than having your tax return audited by the IRS. The IRS uses that “audit anxiety” to help keep taxpayers honest on their tax returns. DIF scores count The IRS evaluates tax returns based on their “DIF” scores, a set of IRS formulas known as the “Discriminate Function System.” About three-quarters of all returns audited are selected by the DIF computer, which compares deductions, credits,