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Audits

What are I-Bonds and Why do I Care?

I-Bonds are paying 9.62% interest. You read that correctly. I-Bonds are U.S. savings bonds issued by the United States Treasury. The interest rate is adjusted twice per year, in May and November. The current rate for I-Bonds is 9.62% on an annual basis for the first...

What Triggers an IRS Audit?

The Wall Street Journal listed 10 Red Flags that the IRS looks out for. Tax credits for children, healthcare premiums, earned income, and now pandemic related grants, loans, and credits make up a majority of their list. Other red flags are small business, especially...

Rolling in Dough(nuts)

The family of three Dippin Donut stores in New York were figuratively rolling in dough when they allegedly concealed over a million dollars in cash sales by depositing the money into their personal accounts instead of their business accounts.  The trio also evaded...

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