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IRS Tax Audit
Understanding the Cohan Rule
The Cohan Rule Basis Individuals or businesses audited by the Internal Revenue Service may be familiar with the Cohan rule. The Cohan rule is based upon a court case that may allow a taxpayer an allowance for certain business deductions even if the taxpayer cannot verify or substantiate certain expenses.  A business attorney has prepared...
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If you take mileage as a deduction on your income tax return, the IRS audit tip below may help you.  Many individuals will claim mileage as a non-reimbursed employee expense on Form 2106, or if self-employed, on a Schedule C, or the deduction may even be stated on another business income tax return.  Most individuals...
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