IRS Audit: How Business Owners Can Prepare for and Pass an Audit
Fundera
APRIL 11, 2019
What Is an IRS Audit? During an IRS audit, the auditor will check whether an individual or business has reported taxable income, losses, expenses, and deductions in compliance with federal tax laws. If the auditor finds a mistake, the individual or business might have to pay a tax penalty and interest. The thought of the IRS auditing your small business taxes sounds very scary for most business owners.
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