Sixth Tip to Help Avoid a Tax Audit:

Tax Forms, Audit

The IRS continues to have several audit watch areas for compliance through 2013.  Small businesses are going to be a major focus this year.  This includes corporations, partnerships and sole proprietors.   While you never know when you may be selected for an IRS Tax Audit, these tips will help you understand what the IRS will be focusing on through the 2013 tax season.

Audit Watch Area number 6 “Partnership returns for abusive transactions and unreported income“:

This is a new area of emphasis for the IRS. Expect the IRS to target large loss partnerships and specific abuses that emerge from early findings in this project.