- IRS audit
- IRS audit UK US noun [C] US► TAX an audit (= official examination of the accounts of a business) made by the IRS: »
The IRS audit found that the company owed $80,729 in back taxes.
Financial and business terms. 2012.
IRS audit
Look at other dictionaries:
audit — au·dit / ȯ dət/ n 1: a formal examination of an organization s or an individual s financial records often for the purpose of uncovering fraud or inaccurate tax returns; also: the final report of such an examination 2: a methodical examination… … Law dictionary
IRS Publication 556: Examination Of Returns, Appeal Rights And Claims For Refund — A document published by the Internal Revenue Service (IRS) that provides information on the audit process, a taxpayer s right to appeal and how a taxpayer can claim a tax refund. The IRS uses a software to assign a score to both individual and… … Investment dictionary
audit — au|dit1 [ ɔdıt ] noun count * an official examination of the financial or tax records of a company, organization, or person to see that they are accurate: Audits by the IRS of his tax records did not result in findings of wrongdoing. a. a careful … Usage of the words and phrases in modern English
Audit — 1. An unbiased examination and evaluation of the financial statements of an organization. It can be done internally (by employees of the organization) or externally (by an outside firm). 2. An IRS examination of a taxpayer s return or other… … Investment dictionary
tax audit — audit by the IRS or other tax collecting agency to determine whether a taxpayer has paid the correct amount of tax. Bloomberg Financial Dictionary * * * tax audit UK US noun [C] TAX ► an official examination of the information that a person or a… … Financial and business terms
Joint audit — A joint audit is an audit on a legal entity (the auditee) by two or more auditors to produce a single audit report, thereby sharing responsibility for the audit. A typical joint audit has audit planning performed jointly and fieldwork allocated… … Wikipedia
Correspondence Audit — Tax audits that the IRS performs by mail. Correspondence audits are the lowest level of auditng performed by the IRS. The IRS sends the taxpayer a written request for additional information about a specific item or issue on a specific tax return … Investment dictionary
Field Audit — An audit is an investigation conducted by the Internal Revenue Service (IRS) into a taxpayer s financial records and tax return(s). A field audit is a systematic investigation by the IRS that is conducted at the taxpayer s place of business or at … Investment dictionary
Office Audit — An examination of documents by the Internal Revenue Service (IRS) for a matter that is considered to be reasonably simple. This type of audit usually takes place at a local IRS office … Investment dictionary
Appeals Conference — A conference that a taxpayer can request with the Internal Revenue Service (IRS) during the audit process if the taxpayer disagrees with the results of an IRS audit. The appeals conference can be requested after a meeting with an IRS supervisor… … Investment dictionary
