Article after article on the Internet states that the odds of a federal audit by the Internal Revenue Service (IRS) are extremely low. Unfortunately, these stories overestimate the rate of audits conducted by the IRS.
Rumors of low audit rates exaggerated
Quarterly tax filers beware: Double the bill & headache in April
Those who choose to pay their taxes in quarterly installments will face double the bill, and double the headache, on April 17, 2018. Why? In addition to paying for the final quarter of 2017, you will also need to pay the Internal Revenue Service (IRS) for the first quarter of 2018.
Millennials are making these three tax mistakes
Long stereotyped as the generation too coddled to leave home, Millennials are finally growing up as they as they gain employment, pay rent, buy homes, get married and have kids. That is to say: they're making adult decisions and contributing to the economy in new ways as Baby Boomers retire; and, as Millennials come of age, they face the rite of passage that is paying taxes.
