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An audit is a process that the Internal Revenue Service uses to check that the numbers of an account correspond with the tax return. While the IRS chooses to audit those with suspicious activity on their returns, there a... More »

www.reference.com Business & Finance Taxes

The purpose of an audit report is to inform external stakeholders of an auditor's objective opinion of a company's financial health. Many auditor's reports are made up of three paragraphs, which explain the responsibilit... More »

www.reference.com Business & Finance Corporations

The purpose of an audit trail is to provide a complete historical accounting of business transactions for future use in tracking missing records, investigating fraud and demonstrating compliance with required standards, ... More »

www.reference.com Business & Finance Taxes
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During an IRS audit, a tax return is examined line-by-line to make sure that everything is in order and nothing unusual is listed. If a suspicious item is found, the auditor asks the taxpayer to explain or justify it. De... More »

www.reference.com Business & Finance Taxes

To submit an online tax return, create and log into a myGov account, reports the Australian Taxation Office. Answer an online pre-lodgment questionnaire to determine whether you should use the simplified myTax program or... More »

www.reference.com Business & Finance Taxes

When individuals have retirement accounts and are either 70 1/2 years old or an older age and retired, the Internal Revenue Service, or IRS, requires that these individuals take out a minimum amount from their accounts e... More »

www.reference.com Business & Finance Financial Planning

The U.S. Internal Revenue Service website states that 21 days are usually the longest time it takes to process a tax return. Most people receive their tax refunds either via mail or through direct deposit into their bank... More »

www.reference.com Business & Finance Taxes Income Tax