Associate Dean of Academic Affairs/Law Professor Nicholas Mirkay joins producer/host Coralie Chun Matayoshi to discuss:
- common red flags that can trigger closer IRS scrutiny or an audit
- what business owners need to watch out for
- do you have to declare prizes you win as income?
- can you take gambling losses as a deduction?
- what is the difference between tax avoidance and tax evasion?
- is there a statute of limitations for tax fraud?
- how to reduce the amount you owe to the IRS.
