Bank finance articles and tips

Taxpayers who seek assistance from IRS enrolled agents have access to plenty of information about substantiation of tax deductions. When the IRS audits someone, documentary proof is required to validate the deductible expenses under investigation. Professionals with enrolled agent certification are more familiar than most tax practitioners with consequences from IRS audits.

Surprisingly, many taxpayers who claim questionable deductions have less than adequate record keeping systems. This is particularly troublesome considering the increasing likelihood of IRS audits regarding certain activities and tax deduction categories. The enrolled agent exam addresses the types of expenses that are deductible in specific situations....