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Prepare your tax audit defense by gathering documents to support the information on your tax returns if you receive an IRS audit by mail. Having no documentation for a tax audit could mean a long ...
In the United States, an income tax audit is the examination of a business or individual tax return by the Internal Revenue Service (IRS) or state tax authority. The IRS and various state revenue departments use the terms audit, examination, review, and notice to describe various aspects of enforcement and administration of the tax laws .
Typically, if your taxes are under review, the IRS will first request more information by mail. For instance, more than three out of four of the agency’s tax reviews in 2021 were conducted by ...
IRS audits are big business. The whole point of an audit is not to strike fear into the heart of American taxpayers -- although it succeeds in doing that -- but rather to raise revenue for the ...
The best way to prevent an audit is to avoid tax scenarios that catches the IRS's attention in the first place. Here are five ways to do that. Photo: Getty Creative (LPETTET via Getty Images)
A tax audit is an examination of an individual or business tax return by the IRS to ensure the taxpayer has accurately reported income and paid the correct amount of taxes. Tax audits can be ...