What does it mean to get audited?

Answer An audit typically refers to when the Internal Revenue Service analyzes your return to ensure that everything has been properly reported. The term, though, is actually much more broad, and can ref... Read More »

Top Q&A For: What does it mean to get audited

What is an audited financial statement?

An audited financial statement is prepared and certified by a certified public accountant. The CPA or auditor ensures that the statements conform to the requirements of the generally accepted accou... Read More »

What to Do If You Are Audited by the Georgia Department of Revenue?

Receiving a notice from the Georgia Department of Revenue stating that you have been chosen for audit can be an upsetting and stressful experience. However, if you keep neat and accurate records of... Read More »

How far back can you be audited by the IRS?

The Internal Revenue Service, or IRS, has the legal right to go back three years from the day that your taxes are filed. If you are thought to have 25 percent or more of under-reported taxes, the I... Read More »

Do FAFSA applications get audited?

FAFSA applications get audited randomly and also when certain information raises a red flag for verification. If your application is audited, SimpleTuition says you may need to provide past federal... Read More »