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According to the IRS, an audit is “a review/examination of an organization’s or individual’s accounts and financial information to ensure information is reported correctly according to the ...
An IRS audit is a review of an individual, partnership or organization's tax return and financial information to verify that reported information is correct. Tax return audits are serious events ...
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 .
The IRS is an institution that many Americans don't like -- or even fear -- yet most don't know much about it. Find Out: Stimulus Payments Are Coming to These States in October Student Loan...
Nobody wants to face an IRS tax audit, but even if you do everything according to the rules, you could be subject to one. The good news is that the chances of being audited are very low. The IRS...
While AI can help streamline IRS audit processes and help ensure the wealthy 1% pay their fair share of taxes, dangers exist. ... risk for an audit than middle-income taxpayers. Data from the ...
Missing income. If you’re a gig worker or contractor and don’t include income from those jobs, the IRS will notice the missing income. In most cases, the agency gets copies of the 1099 forms ...
According to the Huffington Post in 2004, the Wall Street Journal reported that the IRS audited the liberal group Greenpeace at the request of Public Interest Watch, a group funded by Exxon-Mobil. [17] Exxon-Mobil said it was not aware of the IRS audit, nor did it have a role in initiating the audit. [18]