Free for Simple Tax Returns. Maximum Refund Guaranteed. TAX AUDIT ’ simply means official inspection of a Business books of accounts and records. Its a independent body.
It is also refer as systematic review or assessment of something.
As the name itself suggests, tax audit is an examination or review of accounts of any business or profession carried out by taxpayers from an income tax viewpoint. Tax Audit by a Chartered Accountant (CA). It makes the process of income computation for filing of return of income easier. See all full list on thebalance. NOTE: Audit criteria are used as a reference against which audit evidence is compared.
TaxAudit deals with the IRS and state taxing authorities, so taxpaying individuals and small businesses don’t have to. As the largest tax representation provider in the country, TaxAudit handles more audits than any other firm and also offers Tax Debt Relief Assistance to taxpayers who owe back taxes to the IRS or state government. Turnover Criteria for Audit of LLP Business can be of two nature one is trading , manufacturing or retail sales of goods and other is providing services business.