If the thought of an audit has ever given you chills, knowing the facts about them might help take the edge off. Thomas is a native of upstate New York and a graduate of the University at Albany.

Being in business for yourself can be exciting, lucrative, and a great way to draw the attention of the IRS's audit division. The IRS has audited significantly less than 1% of all individual ...

In a financial audit, inherent risk is most likely to occur when transactions are complex or in situations that require a high degree of judgment in regard to financial estimates. This type of ...