IRS Targets Small and Medium Sized Companies

The New York Times reported that tax audits are down for large companies. The flipside to that coin is that tax audits are up for small and medium sized companies. Apparently, there’s some sort of “perverse quota system” that focuses the IRS agents on quantity and not quality of audit.

The IRS disputes the claim and says they are going after large corporations like never before.

One undisputed fact is that taxes are underpaid by a whopping $345 billion. Our economy is floundering, to say the least. We have record budget deficits. The government will be trying to collect. No company, large or small, is immune from an IRS audit.

GRM can help make an audit almost painless by keeping your records in tip top shape. If your hard copy records are being stored with one of our eight US facilities, we will deliver the exact files you need when you need them. Our Scan-On-Request service will give you, your CPA, your attorney and all other relevant personnel immediate access from any internet connection. Many companies are choosing to be proactive by storing their records in our secure online records repository, giving them 24/7/365 password protected access to all of their records.

We hope that none of our clients are audited this year, but GRM can help you be prepared.