What happens if you get audited and don’t have receipts?
xendoo
MAY 16, 2023
For example, if your deductions include certain expenses like entertainment, you can’t claim the Cohan rule. However, there are many records that businesses need to keep, including receipts, financial statements, payroll, and much more. However, the IRS can reject your deductions even if you follow the Cohan rule.
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