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 ?
Respectively, tax audit officers had to leave their positions," said the source.
Gbonjubola recently, CG Tamba expressed confidence that the visit will yield the needed results in strengthening LRA international tax audit capacity and also the audit of other specialized sectors such as manufacturing and the various subsectors in manufacturing.
Dubai: The provisions of the federal law mandates the Federal Tax Authority (FTA) with the legal right to perform a tax audit on any person to determine their compliance to the laws.
Some of the NTS' tax audit cases were uncovered to have backed the former governments' aim to solidify their political power.
ISLAMABAD -- Federal Board of Revenue (FBR) has started withholding income tax audit of telcos in order to professionally examine, analyze and verify the veracity of the income tax.
1 (ANI): The government has extended the last date for filing Income Tax Returns (ITR) and tax audit reports till November 7.
The FTA may perform a tax audit on any person to determine compliance with the provisions of the relevant laws, at its office or the place of business of the person (or any other place where they conduct business, store goods or keep records).
Address : O/O The Commissioner, Central Tax Audit, 4Th Floor, C.
The Authority may perform a Tax Audit on any Person to determine their compliance with the provisions of the relevant Laws.
Tax audit is the core function of any revenue authority and should have received the maximum focus and attention.
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.