TaxAudit Blog

Tag: LLC

Tax Extension

As taxpayers, we are personally responsible for filing our returns both on time and accurately. Failure to do one or both can result in significant penalties.

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closed - out of business sign

There are several federal and state agencies that may have an interest in questioning a business’ operations, income, and expenses after it is closed.

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small business owner

If you are the sole proprietor, the chance of being selected for audit by the IRS is 4.5 to 12 times higher than it is individuals without a business.

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