The IRS just announced that they started two rounds of random audits starting in April. About 2,500 small corporations (assets of less than $250,000) will be eyed as part of the Service’s national research audit program. Tax returns from 2010 will be reviewed.
A set of audits also is on tap for corporations with
assets of more than $10 million and up to $100 million. The IRS will check a sampling of
their returns for a five-year period, starting with returns for 2010.
The IRS will use the results of these exams to update its
return selection formulas.
I hope that you are not in the sample. But if you should get selected, remember we are here to help you.
I hope that you are not in the sample. But if you should get selected, remember we are here to help you.
