Accounting

Audit

Employers can minimize their compliance and audit risks by meeting the recordkeeping requirements of the Internal Revenue Code (IRC). The IRC requires all employers that withhold and pay federal income, Social Security and Medicare taxes to maintain certain records for each employee. Failing to meet these recordkeeping requirements can mean big penalties, not to mention

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The thought of being selected for an audit keeps many business owners up at night. But did you know the Internal Revenue Service (IRS) won’t arbitrarily make your company the subject of an audit investigation? According to IRS.gov, out of the 196 million returns filed in 2016, only 1.1 million (0.5%) came under examination in

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