4 Sensitive Audit Areas For S Corporations

By Ama Sarfo (November 3, 2014, 2:29 PM EST) -- S corporations are a highly popular tax structure for small businesses, thanks to their pass-through tax treatment, but as they increase in number, they're also attracting increased scrutiny from the Internal Revenue Service, which is redoubling its taxpayer compliance efforts among individuals and closely held businesses, experts say. 

It's estimated that the U.S. has a $450 billion gap between taxes that are owed to the government and taxes that are actually paid on time. The staggering number has put taxpayer compliance back in the forefront for the IRS, after it shifted resources in the 1990s away from auditing activity and toward...

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