Tax audit

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Tax audit

Audit by the IRS or other tax-collecting agency to determine whether a taxpayer has paid the correct amount of tax.

Tax Audit

In taxation, the process in which the tax collection agency reviews the reports of an individual or company to see if all income, deductions, and/or credits reported accurately reflect reality. This is done to ensure that each individual or company pays his/her/its full tax liability. Audits are conducted on a random basis, or when something appears remiss on a tax return. See also: Tax Avoidance, Tax Evasion.
References in periodicals archive ?
Therefore, it is not surprising that an overwhelming number of tax audits are conducted in haste and are perfunctory creating space for tax evasion and avoidance.
In an attempt to muzzle certain companies -- including the critical Taraf daily -- viewed by the AK Party as its enemies, the government recently embarked on the tactic of issuing them with tax audits.
As he would like to start with tax audit assignments, I want to know if there are any limits placed on the number of tax audits he can undertake.
New development strategy of the State Tax Service proposes to establish a department of tax audits, Vice Chairman of the State Tax Service Oktyabr Abdykaimov said during a seminar with the participation of tax officials from Kazakhstan on accession of Kyrgyzstan to the Eurasian Economic Union.
The County invites proposals from organizations qualified to perform property tax audits in York County, S.
Two IRS programs are designed to close the tax gap for federal employment taxes: National Research Program employment tax audits and the Voluntary Classification Settlement Program (VCSP).
For more information on the best line of defense for sales tax audits visit www.
Among the 890 corporate tax executives surveyed, 61 percent said federal tax dispute activity had increased in the past 12 months, while 37 percent said the total number of state tax audits in jurisdictions in which they do business increased.
The Federal Government, through the Minister for Finance and Economic Affairs, had approached ICAP for development of a framework to carry out tax audits of corporate sector tax payers by the Chartered Accountants.
On the international side of the ledger, conference registrants will be able to attend a session on foreign tax audits, another on tax planning for permanent establishments; a third on the highly anticipated guidance on the transfer of services under section 482; and a fourth on U.
Does the tax department always give the customs team a heads-up on transfer pricing policy changes, advance pricing agreements (APAs), transaction tax audits and other such events?
The practitioner should look at the sales and use tax returns, use tax self-assessment schedules, lease contracts, intercompany transactions, lists of the largest suppliers and issues from past sales and use tax audits.