08.12.2020
|
Articles
About Us
中文网站
Offices
Careers
Client Advantage
Client Login
08.12.2020
|
Articles
At a recent conference, top officials with the Internal Revenue Service announced a renewed audit focus on high-net-worth (HNW) individuals and their related entities going forward. Advisors must be ready to work with their clients to respond to the IRS given the potential comprehensive scope and overwhelming information gathering that the recently announced audits may require. Here’s brief description of what’s expected and ideas for how to advise clients in preparation for a HNW audit. In addition, these ideas are best practices that may provide advantages regardless of whether an audit is initiated. For example, taxpayers will benefit from a detailed understanding of their financial situation to address potential federal and state tax law changes as a result of the November 2020 election.
We use cookies on this website to enhance your user experience and to improve the quality of our site. By continuing to use this website, you are demonstrating your consent to the placement and use of cookies as described in our Cookie Policy.