One in six of the 145 million tax returns that the IRS expects to be filed for the 2010 tax year will include a Schedule C for self-employed filers, and many of them will no doubt be subjected to an IRS audit.
The National Association for the Self-Employed had some advice for self-employed business owners in case they do get audited. The NASE noted that the IRS can review tax returns for up to three years, so now is the time to make sure all of the necessary paperwork and documentation is stored with the 2010 tax return.
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