H&R Block Newsroom (audits)
2017
June
28,
2017
One of the biggest mistakes taxpayers can make is to not file a required tax return. The penalty for not filing is bad: If taxpayers file five months or more after the due date, the penalty is 25 percent of the tax they owe. If the IRS proves that ta...
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June
01,
2017
Each year, taxpayers make a reasonable attempt to comply with the tax law for a few reasons. In an IRS Oversight Board survey, taxpayers identified third-party information reporting (62 percent), the fear of an audit (59 percent) and belief that othe...
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May
18,
2017
One month after the tax filing deadline, most taxpayers have put their 2016 return behind them. So what are H&R Block’s tax experts actually doing? From tax planning and audit support to continuing education, it turns out they have quite a lot to do ...
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May
17,
2017
In the past, the IRS didn’t get around to auditing tax returns until several months after they were filed and after taxpayers received the refunds. But the 2017 tax season was a turning point. The IRS implemented the first phase of a move toward more...
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2016
September
22,
2016
The annual tax filing ritual is not the only time a taxpayer may need the help of a tax advisor. According to the IRS Oversight Board, 43 percent of taxpayers have to contact the IRS for something other than filing their returns. If a taxpayer doesn’...
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August
26,
2016
Taxpayers fear IRS audits, with 59 percent reporting it influences how they report their taxes, but the IRS has another way of challenging tax returns to collect additional revenue: notices that are like an audit. In fact, taxpayers are 2.5 times mor...
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2015
September
15,
2015
Last year, the IRS audited more than 1.3 million taxpayers and assessed $33 billion in taxes. Taxpayers who fear an IRS audit may hesitate to claim all the tax breaks to which they are entitled. Rather than risk an audit, these taxpayers might prefer...
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September
14,
2015
The IRS issues more than 40 million penalties to taxpayers every year. Now, taxpayers are getting a new and improved message from the IRS when they receive notices about failure-to-file and failure-to-pay penalties. These notices include a new insert...
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September
03,
2015
Small businesses are a prime target for IRS audits. Because these businesses typically receive much of their income in cash and may receive few or no information statements, the IRS sees them as likely candidates to underreport income. According to t...
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August
19,
2015
Taxpayers who face an IRS penalty this year are not alone. The IRS could assess more than 40 million penalties to taxpayers, totaling almost $25.6 billion in a single year. In some situations, taxpayers may miss out on an opportunity to have t...
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July
15,
2015
In a typical year, nearly 12 million individuals who were required to file a tax return do not file. The IRS can pursue those late tax returns, meaning stiff consequences and increasing complications for past-due tax return filers. Penalties and the ...
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July
01,
2015
Even though tax filing season is over, chances are good that any given taxpayer will hear from the IRS in the coming months. In fact, according to the IRS Oversight Board, 43 percent of taxpayers have to interact with the IRS outside of filing a tax ...
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2014
April
07,
2014
April 9Inaccuracies May Cost 1 in 5 DIYers More Than $400 on Average – Totaling $1 Billion A recent H&R Block Second Look® review study revealed that when taxpayers prepared their own tax returns, about 1 in 5 of them left money on the table. Taxp...
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April
01,
2014
By The Tax Institute at H&R Block The federal government estimates it has a $450 billion tax gap, which is the amount the IRS estimates is missed in tax collections. One way the government tries to close that gap is through IRS audits of those sus...
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2013
April
04,
2013
The federal government estimates it has a $450 billion tax gap (the amount the IRS estimates is missed in tax collections). One way the government tries to close that gap is through IRS audits of those suspected of having underpaid. In 2011, 7.4 perc...
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