Tax Audit

A tax audit is an examination of an individual’s or organization’s financial records by tax authorities to ensure compliance with tax laws. The goal is to verify that income, deductions, and tax returns are accurate and complete. Audits can be random or triggered by discrepancies in reported information. During an audit, the taxpayer may need to provide documentation to support their claims. While audits can be stressful, they are a standard part of the tax system, ensuring that everyone pays the correct amount of taxes and helps maintain the integrity of tax revenue.