If you are wondering whether your employer will tell the Internal Revenue Service (IRS) about your income, the answer is almost certainly, “Yes.” While some unscrupulous companies may choose not to report anything to the IRS, most companies report their employees’ income not only because it is required, but also because it allows them to reduce the amount they owe.

For international partnerships, facing a federal tax audit is a complicated and high-risk proposition. The Internal Revenue Service (IRS) is heavily focused on enforcing partnership tax compliance, and under its BBA Centralized Partnership Audit Regime, it is taking a rigorous and structured approach to examining partnerships’ returns.

When it comes to dealing with the IRS, all taxpayers need to be careful. Unfortunately, there is a lot of misinformation out there, and if taxpayers rely on bad advice, they can find themselves facing an expensive tax audit—or even a criminal tax fraud investigation.

When preparing for a partnership tax audit, it is important to know what to expect. Successfully navigating a partnership tax audit requires careful planning and preparation, and it requires the ability to engage effectively with the Internal Revenue Service (IRS) throughout the process. With this in mind, here is an overview of what partners can (and should) expect after receiving a Notice of Selection for Examination (Letter 2205-D) from the IRS.

When you get paid, you cash your paychecks immediately. You need every dollar to cover your expenses, and you can’t afford to wait a few days for your paychecks to clear. Is this okay? Or are you setting yourself up for problems with the Internal Revenue Service (IRS)?