The law says that a sideline business loss can produce a tax write-off as long as the business owner is honestly trying to make a profit.
Generally, there is no stopping an audit once it begins. Once the IRS sends an examination notice to your last known address, the audit has begun.
If visiting the IRS would cause you great hardship, you can ask that the office audit be held at your home or business.
Before leaving for your tax audit — or before the revenue agent arrives at your home office— take one last look at your documents and do an inventory of the receipts and records you have for the audit.
Come to court a little early; judges hate tardiness. It will also give you time to find parking and the right room, and to orient yourself.
Appealing isn’t especially difficult or timeconsuming. Your chance of getting at least some tax reduction is great. You don’t have to hire a tax professional to appeal.
The 25 Most Frequently Asked Questions About Taxes – 1. How long should I keep my tax papers? 2. How long should I worry about unfiled tax returns?
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