An IRS audit is a review by the Internal Revenue Service of a person’s or business’s tax return and related records to verify that income, deductions, and credits were reported correctly. It may involve requests for documents, questions, and possible changes to the tax owed, including additional tax, penalties, or a refund.
A tax audit is an IRS or state revenue agency review of your tax return to verify income, deductions, and credits, and it can result in no change, a refund, or additional tax owed. Audits may be triggered by discrepancies, unusual deductions, third-party reporting mismatches, or random selection, and they can be handled by mail […]
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A tax audit is an IRS or state review of your tax return to verify income, deductions, and credits, and it can occur by mail or in person. Audits are triggered by mismatches, unusual deductions, or random selection, and they come with specific documentation and response deadlines. This article explains the legal requirements for tax
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