If you answered yes to all of the above (except the last one) then you probably are going to be having Obamacare audits whether you want it or not.
When it comes to compliance, the IRS has increasingly focused on small business underreporting, which is responsible for 84% of the $450 billion tax gap. At national and regional tax forums held this summer, the IRS projected small business areas where it will focus through 2013.
Get ready . . .
- Personal use of a company car
- High income, high wealth business owners
- Form 1099-K match up
- Partnership and S Corp returns
- Reclassifying workers as 1099
And . . . tax credit for small business health insurance plans.
Want to be the target of Obamacare audits?
Try taking a legally available tax credit for health insurance and see what happens.