Revenue Agent's Report

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Revenue Agent's Report

An IRS agent's report following an audit. The RAR contains information such as adjustments to the taxpayer's income, but it states the bottom line as to whether the taxpayer overpaid, underpaid, or paid the correct amount. If the taxpayer overpaid, he/she receives a refund. If one underpaid, one must pay additional taxes, often with interest and penalties. See also: Form 4549.
References in periodicals archive ?
compute rollover issue adjustments and present them to the team for incorporation into the Revenue Agents Report,
We now compute rollover issue adjustments and present them to the team for incorporation into the Revenue Agents Report as part of the requested audit adjustments given to IRS at the start of an audit (for agreed audit adjustments only);
Response #8: To accelerate the examination process in relation to rollover issues, I would be willing to compute rollover issues adjustments and present them to the team for incorporation into the Revenue Agents Report.
disclose recurring issues and compute the adjustments so the team could incorporate them into the Revenue Agents Report
If you had the Forms 5701, Notice of Proposed Adjustment, for all of the issues, would you be willing to forgo receipt of a Revenue Agents Report if the case was totally unagreed?
Response #5: We would be willing to forgo receipt of a Revenue Agents Report if the case were totally unagreed.
Response #6: Forgoing the receipt of the Revenue Agents Report, Form 870 or 870-AD is not an option that we favor.
At our company, the Revenue Agents Report is reconciled to our internal system prior to being issued.