Income Tax Audits
All Filer Types
An IRS audit is a review/examination of an organization’s or individual’s accounts and financial information to ensure information is reported correctly according to the tax laws and to verify the reported amount of tax is correct.
Who Gets Audited
Both individuals and organization can be selected for an IRS audit.
Why Was I Selected?
Selection for an audit does not always suggest there’s a problem. In most cases, the IRS randomly selects individuals and organizations through computer screening – sometimes returns are selected based solely on a statistical formula. They compare your tax return against normal standards for similar returns.
Another reason for an audit could be related examinations – They select returns when they involve issues or transactions with other taxpayers, such as business partners or investors, whose returns were selected for audit.
Filing an amended return does not affect the selection process of the original return. However, amended returns also go through a screening process and the amended return may be selected for audit. Additionally, a refund is not necessarily a trigger for an audit.
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