Tax Compliance Audits

A Tax Compliance Audit is an examination by tax authorities to verify that an individual or business has accurately reported income, deductions, and credits on their tax return. The goal is to ensure compliance with tax laws and identify any discrepancies or potential fraud. Audits can be random or targeted based on risk factors. They involve reviewing financial documents, records, and supporting documentation. While they can be straightforward, they aim to confirm that the correct amount of tax has been paid, helping maintain fairness in the tax system for everyone.