How often can the IRS audit a person?

Answer The Internal Revenue Service (IRS) has the legal right to audit you every tax year, if there are items in your tax return that need attention. Only one audit is done per tax year, unless the IRS st... Read More »

Top Q&A For: How often can the IRS audit a person

What is a VAT audit?

Value-added tax, or VAT, is a sales-tax system used by many countries outside the United States. Businesses must keep detailed accounting records to ensure they are collecting and paying the correc... Read More »

What does an IRS audit look for?

On One Hand: Improper DeductionsThe Internal Revenue Service is looking for mistakes on your tax return, whether purposeful or accidental. One of the biggest things the IRS looks for in an audit is... Read More »

What is a sox audit?

SOX is an abbreviation of Sarbanes-Oxley Act of 2002, which aims to protect investors by requiring that companies have controls in place to prevent misuse, fraud and loss of data. A SOX audit is on... Read More »

How Does the IRS Let One Know About an Audit?

The IRS conducts three kinds of audits, ranging from a simple request for information to a visit to your home from an IRS agent empowered to review your financial records. If your tax return has be... Read More »