Tax audit

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 ?
Tax audit is the core function of any revenue authority and should have received the maximum focus and attention.
Address : Office Of The Commissioner Room211 Service Tax Audit Ii Delhi Plot No 36 37 Sector 32 Opposite Medanta Medi City Gurgaon
ySTANBUL (CyHAN)- A tax audit has been initiated for the companies of Macit GE-l, the brother of former President Abdullah GE-l, as rumors swirl around Ankara that the former president is preparing to form a new political party, a possible alternative to the ruling Justice and Development Party (AK Party), of which he was a founding member.
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.
A disclaimer at the beginning of How to Win Your Tax Audit: An Insider's Guide to Successfully Negotiating with the IRS warns that its information absolutely cannot substitute for the aid of an accredited legal professional, when one is facing a tax audit or similar problems.
National full-service tax audit representation company, Tax Audit Defense provides the top five IRS audit triggers to help educate taxpayers about being under an IRS/State audit.
NRP audits are conducted by trained IRS examiners, and the scope of an NRP employment tax audit includes mandatory, required, and potential employment tax issues.
Federal and state governments are turning up the heat on corporate tax audit activities in their continued efforts to capture more tax revenue, according to a KPMG survey of corporate tax executives.
KARACHI, January 12, 2010 (Balochistan times): The Southern Regional Committee of the Institute of Chartered Accountants of Pakistan (ICAP) is organizing a seminar on Tax Audit Framework to be held on Saturday, January 16, 2010 at 3:00 pm at the Moosa D.
June 19, 2009 (Frontier Star) -- Federal Board of Revenue (FBR) and Institute of Chartered Accountants of Pakistan (ICAP) have signed a memorandum of understanding (MoU) for development of Tax Audit Framework and its implementation.
the nation's largest food company, reported a 41 percent jump in first-quarter earnings Wednesday thanks largely to a favorable tax audit that boosted its coffers by $405 million.
In 2001, after an employment tax audit, the IRS issued a notice reclassifying Odell as the corporation's employee.