Poor Recordkeeping Hurts Taxpayers: Problems and Prevention

Every year a few taxpayers go to court hoping for a better outcome than the one offered by the IRS. Usually, they lose due to poor records, not meeting all requirements for particular deductions, or inadequately separating business from personal expenditures. This article examines a few 2015 cases involving these issues and makes suggestions for practitioners to remind clients that they need timely records and should only report allowable deductions. – See more at: http://www.thetaxadviser.com/newsletters/2015/oct/poor-tax-recordkeeping-hurts-taxpayers.html#sthash.Do84PZol