Contractors face a higher risk of IRS scrutiny. Organizing records, analyzing discrepancies, and professional representation are key to a favorable outcome.

There is a general misconception about what the IRS can and cannot do. Owing money to the IRS is not like owing any other creditor. The IRS is one of only a few creditors who can seize and sell your ...

Generally, the Comptroller will not issue an assessment without performing some form of examination or audit of the taxpayer’s books and records. In certain cases, such as where the taxpayer has a ...

IN 2025, the Bureau of Internal Revenue (BIR) suspended all its audit and field operations to realign its audit strategy and processes. This stemmed from congressional probes concerning the agency’s ...

There are few things that strike more fear into the heart of the average taxpayer than the words "IRS audit." The thought of facing down an IRS auditor and having to explain your entire financial life ...

Question: My wife and I just received a lovely letter from the IRS demanding additional taxes on IRA distribution income they claim we did not report on our 2021 tax returns. Apparently, we omitted ...

The suspension of tax audits by the Bureau of Internal Revenue (BIR) was not simply an operational interruption. It was an institutional acknowledgment that something deeper needed attention.

The Bureau of Internal Revenue (BIR) ended the two-month suspension of tax audit activities after issuing Revenue Memorandum Circular (RMC) No. 8-2026 and Revenue Memorandum Order (RMO) No. 1-2026.

Opinions expressed by Entrepreneur contributors are their own. Imagine getting a letter in the mail stating you owe someone $98,000. Now imagine that someone is the Internal Revenue Service. Just the ...