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Simple English definitions for legal terms

tax audit

Read a random definition: general maritime law

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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[] c0bra1
16:14
damn my wake forest withdrawal didnt help the wl ppl 💀
MrThickRopes
16:15
what they gon collect frum me
MrThickRopes
16:15
nothin
Fuck fo pm
MrThickRopes
16:24
thas right
BlueFalcon95
16:25
Das right
hey, just so u all know - i just farted
i luv u all and will be seeing u all shortly
17:02
I floated marquettes deadline hopefully someone on the WL is thankful
18:10
safety
18:56
Ughhhhhhhhhh
Lets gooo my school was gunning median this last cycle 🤣
21:37
movie recs?
starfishies
21:45
rankings out woo
eggan
22:06
NYU solos columbia any day
Washu, TX, Vandy all move up and did well at 14
I am shocked that NW drops to 10 and NYU moves up to 8
[] c0bra1
23:07
holy cow unc is 18 time to beg to get off the waitlist
[] c0bra1
23:08
"rankings don't matter" i chant as i reorder my preference list
23:22
are the rankings on US News&World Report accurate?
YM-Honor-Student
23:24
No those are incorrect
YM-Honor-Student
23:24
Kansas is t14 and Cornell is rank 50
YM-Honor-Student
23:25
@DrDresSays: I recommend Cinema Paradiso. Makes me cry everytime.
YM-Honor-Student
23:26
The rankings literally did not change in my opinion. Smh. Going by like job outcomes and constitutional law, stayed the same.
23:28
@YM-Honor-Student: thank you!
YM-Honor-Student
23:29
You are welcome!
YM-Honor-Student
23:33
UFlorida should be higher for winning march madness lol.
Napo
1:43
Oof ASU dropped hard
LovelyDay
4:46
Yeah, they’ve been heading in that direction and the methodology change made it even more pronounced. As dumb as these rankings are, think they placed ASU about right
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