A tax audit reviews an organization’s or individual’s accounts and financial information to ensure they report information correctly according to tax laws and to verify the accuracy of the reported tax amount. A government agency, most commonly the Internal Revenue […]
“Only about 1% of taxpayers are audited. What triggers an audit is generally something on the tax return that’s out of the ordinary,” he says. “For example, if you have a side business and file a Schedule C, the IRS […]