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EXPERT TAX TIPS - STAY IN THE KNOW


Tax Talk Thursday: The Audit Readiness Checklist - What to Have in Place Before the IRS Letter Arrives
Most taxpayers think about audits only after an envelope from the IRS shows up. By then, the outcome is already largely decided — not by what you say to the examiner, but by what records you kept two or three years ago. An audit is not an accusation. It is a request to prove what you reported. Taxpayers who lose audits usually did not cheat; they simply cannot substantiate a deduction they were entitled to, or they cannot explain a bank deposit that was never income in the fi
3 days ago8 min read


The 6-Year Rule for Unfiled Tax Returns: What It Really Means
Many taxpayers are surprised to learn this: if you never filed a tax return, the IRS can legally go back forever. There is no statute of limitations on unfiled returns. The clock only starts once a return is filed. So why does the IRS talk about a 6-year rule? Because while the IRS can demand every unfiled year, they generally don’t. The 6-year rule is an IRS administrative policy, not a legal limit—but it matters when you’re trying to get back into compliance. No Statute of
Nov 20, 20252 min read
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