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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 .
For the fiscal year 2009, about 1.4 million taxpayers were chosen for audit. This represents about 1% of the 140 million tax returns filed in 2008 -- pretty good odds. Of those, about 75% were ...
Financial accounting is a branch of accounting concerned with the summary, analysis and reporting of financial transactions related to a business. [1] This involves the preparation of financial statements available for public use.
A financial audit is conducted to provide an opinion ... offering audit, assurance, tax, consulting ... unimaginable possibilities for data collection and analysis ...
The Earned Income Tax Credit and/or Child Tax Credit. IRS standard deduction. You won’t qualify if your Form 1040 includes: Schedule A itemized deductions. Crypto and stock sales. 1099-G ...
Tax Analysts is a nonprofit publisher offering the Tax Notes portfolio of products, including weekly magazines featuring commentary, daily online journals featuring news and analysis, and research tools, all focused on tax policy and administration.