IRS

The Inland Revenue Service (IRS) most likely knows about most of the financial accounts that are possessed by an individual. Regardless of the information that the IRS possesses about different individuals, they rarely inspect deeper into the bank and other financial accounts. The only time they do this is when the accounts are being audited. […]

Almost every individual is wary of IRS audits because they tend to be quite challenging, to say the least. In the case where the audit does not go as planned, it might result in several financial penalties and litigation for the users. Therefore, IRS Audits are taken very seriously, regardless of the income threshold, and