Welcome to
On Feet Nation
Helen Online
Robert Online
Thomas Shaw Online
JonesMails Online
Sky Zone Online
jack Online
Ab12 Online
basitkhatr6666 Online
rimeton454 Online
You have done everything by the rules and regulations. You submitted your income tax return also before the deadline. Everything had been reported correctly, and you are also expecting a tax refund. Then you receive a letter from the Internal Revenue Service, which is conducting a tax audit. A Tax audit is a process that verifies that the taxpayer is adhering to the tax laws or not by assessing and examining the accounts. It doesn't always have to mean that there is something wrong, and it's just that IRS wants to examine.
1) Correspondence Audit
The first type of tax audit is the most common, which is correspondence audit. It takes up almost 75% of all IRS audits. It is the simplest type of audit in which it involves the IRS sending a letter that requests some more information about a specific part of a tax return.
2) Office Audit
The second type of tax audit is known to be an Office Audit. If the IRS wants to question something complex or big for a correspondence audit, you will receive a letter in which the IRS would request you to come to the IRS office for the audit. The office audit is more particular and can have many problems.
3) Field Audit
A field audit is known to be the most accessible type of tax audit. It means IRS is paying a visit to the taxpayer to go through the records. In addition, it is processed and conducted by special agents and revenue experts to avoid any discrepancy in the process.
4) Taxpayer Compliance Measurement Program (TCMP) Audit
The fourth type of audit is known to be a Taxpayer Compliance Measurement Program. The primary purpose of this type of audit is to modify the data for the IRS DIF scores. DIF scores are created from analyzing a large group of intensive audits which are done every few years. In this audit, they would analyze every item on the tax return, and every item must be with documentation.
Whichever IRS Audits you may be getting, it is always suggested to be ready and organized. In this situation, you need to be calm.
© 2024 Created by PH the vintage. Powered by
You need to be a member of On Feet Nation to add comments!
Join On Feet Nation