What to Expect During an IRS Audit: Expert Tips and Insights
Understanding an IRS Audit: What It Is and Why It Occurs An IRS audit is a review of your financial accounts and information to verify whether or not you’re filing your taxes correctly. They carry out audits to maintain fairness within the tax system, verifying income, expenses, and credits are correctly reported, which helps maintain equity within it. Audits can happen due to discrepancies on your tax return, random selection, or issues flagged by their…