Tax Audits

A tax audit is the process by which a company's financial documents are reviewed in order to make sure that they are in compliance with all applicable tax laws with regard to their business. The main thing that is looked for in a company tax audit it to make sure that the proper amount of sales taxes has been collected. An individual taxpayer may also be subject to a tax audit as well. When a taxpayer is subjected to a tax audit, the taxpayer's tax return is reviewed, and if needed, the taxpayer must provide the Internal Revenue Service with any documentation they may require in order to prove that the information on the tax return is correct.

Fast Facts

  • There were 1.66 million individual taxpayers audited in 1997.
  • Most people are randomly picked for a tax audit, and there are no underlying reasons for the audit.

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  • Tax Audit Legal Help

    Staff writer, Feb 03, 2006A field audit means the auditor comes to your home or business. The IRS usually uses...
    • Site: taxationlawfirms.com
  • Tax Audit

    One of the biggest fears of taxpayers is having their tax returns audited by the Internal Revenue Service (IRS...
    • Site: taxationlawfirms.com
  • Appealing a Tax Audit

    Appealing a tax audit requires a couple of steps to take and can be free if the person appealing the audit doe...
    • Site: taxationlawfirms.com
  • Resolving Tax Disputes

    Taxpayers can resolve their small tax disputes in tax court, a subdivision of small claims court, which are pa...
    • Site: taxationlawfirms.com

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