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Category - Cash-Intensive Businesses

Articles

What is a cash-intensive business?

Why are cash-intensive businesses audited differently?

What are the first records an auditor will compare?

What should you check before an audit starts?

What is the "tax gap"?

What are common ways owners skim cash from a business?

What is a "zapper" program?

How does the IRS identify unreported income in cash businesses?

What are examples of cash-intensive businesses the IRS still targets?

What indirect methods might the IRS use in these audits?

What is a cash T (minimum income) analysis?

Can the IRS summon records from third parties?

How does the IRS use industry standards in audits?

How should you handle an auditor who claims a business is cash-intensive when it isn't?

What is the most important preparation tip for these audits?

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