Tax Audit

Category: tax

An official inspection by the IRS of an individual or organization’s accounts and financial information.

An audit is the "fact-check." The IRS verifies that what you reported on Form 1040 matches the reality of your bank statements and receipts. Most audits are "correspondence audits" (just a letter asking for a receipt), but some are deep investigations.

Common Examples

• We maintained digital logs of all charitable receipts to ensure we were fully prepared for a potential tax audit.
• The tax audit notice requested documentation for our business expense deductions, which we provided through our organized digital receipt portal.