Perhaps the best reason to extend is that going on extension encourages reflection and due care. After all, all tax returns must ... and that can bring on an audit. Extensions can allow time ...

The Central Board of Direct Taxes (CBDT) has extended the due date for submitting the income tax audit report from September 30 to October 7 for the Assessment Year 2024-25. A penalty of 0.5 per ...

Experts recommend taking your time when doing your taxes to avoid the risk of an IRS tax audit. Whether you're ... extension by the April tax filing due date if you need more time, and this ...

On enforcement, the IRS said it would do more audits of big ... in The Kiplinger Tax Letter. It helps you navigate the complex world of tax by keeping you up-to-date on new and pending changes ...

"You're really playing the audit lottery and increasing your risk," he said. The IRS often finds missing income via so-called "information returns," or tax forms, which employers and financial ...

Still, some areas can be "low-hanging fruit for the IRS," said Mark Baran, managing director at financial services firm CBIZ's national tax ... audit rate than the rest of U.S. filers, partly due ...