IRS Agents Requesting QuickBooks File!
According to the National Association of Tax Professionals, IRS auditors are now being instructed to obtain a copy of the taxpayer’s QB file for audits for any taxpayer that uses QuickBooks. If the taxpayer refuses to provide the database and the auditor deems it necessary, they can issue a Summons for the file!
There is definitely a trend that’s a direct result of so many small businesses using QuickBooks.
Yep. The IRS is cracking down on small business to get blood from the proverbial stone. While it’s true that small business owners make the greatest number of errors when filing, and small business has always been audited more frequently than large companies, there is a sea-change happening at the IRS. Prepare to be audited — and keep your books accordingly.
The irony, Jen, is that the IRS has openly admitted that it’s easier to audit small businesses than the big corporations! Who knows how much the next Enron might be hiding, they’re thinking, let’s go after Joe’s hardware shop and milk him for every dime!!
How come IRS audit small business establishments more frequently? How does this affect them?
I am starting to take my feet on affiliate programs too, so this article is excellent starting point!
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