Audits – IRS Targets Wealthy and Business Owners
The IRS Oversight Board says that audits of individuals with incomes in excess of $ 1 million grew by 29% for the fiscal year 2009. While the total number of total audits remained constant at 28,349, the likelihood that the wealthy and business owners will be subjected to audit increased dramatically. This IRS initiative seeks to close the gap between what taxpayers owe and what they actually pay. The IRS believes the targeted audits, new qualification requirements for return preparers, and its offshore voluntary compliance initiative will continue to close the gap.
What’s the answer – better and proactive tax planning!
Put more money into your pocket! Call us for help or with questions!
The Business Wealth Preservation Group is a professional services firm dedicated to providing superior individualized and custom service to individuals and their businesses in the areas of asset protection, tax planning, exit strategies, and wealth building. Simply put – we want to educate you on all relevant opportunities to put more dollars into your pocket, your business and your future.
We focus on leading edge, sophisticated, and safe business strategies that will help business owners structure, operate and maintain their business to take advantage of business and tax laws rather than being encumbered by them. We partner with the business, the accountant, and the attorney to ensure the business owners are capturing all available benefits that align with their business and personal goals.
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