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Simple English definitions for legal terms

tax audit

Read a random definition: Director of the Mint

A quick definition of tax audit:

A tax audit is a review of an individual or organization's tax return by the Internal Revenue Service (IRS). The purpose of the audit is to ensure that the taxpayer has accurately reported their income and deductions and complied with tax laws and regulations. During the audit, the IRS may examine the taxpayer's financial records and supporting documents. Taxpayers may be selected for an audit randomly or based on certain criteria, such as high deductions or unusual income. It is important for taxpayers to keep accurate records and be prepared for a potential audit.

A more thorough explanation:

A tax audit is a formal examination of an individual's or organization's accounting records, financial situation, or compliance with tax laws and regulations. The Internal Revenue Service (IRS) conducts tax audits to ensure that taxpayers are reporting their income and deductions accurately and paying the correct amount of taxes.

  • Correspondence audit: An IRS audit of a taxpayer's return conducted by mail or telephone.
  • Field audit: An IRS audit conducted at the taxpayer's business premises or lawyer's offices.
  • Office audit: An IRS audit of a taxpayer's return conducted in the IRS agent's office.

These examples illustrate different types of tax audits that the IRS may conduct. A correspondence audit is conducted through mail or telephone, while a field audit is conducted at the taxpayer's business premises or lawyer's offices. An office audit is conducted in the IRS agent's office. These audits are conducted to ensure that taxpayers are complying with tax laws and regulations.

taxation of costs | tax avoidance

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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