A tax audit is an IRS attempt to verify the accuracy of a tax return. It is a review of an individual or business's financial information to ensure that the reported income and deductions are accurate and in compliance with tax laws. It is not a revision of a previously filed return, a charge of illegal action, or a U.S. Tax Court action or decision.

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A Tax Audit Is A(n)

Question 124

Multiple Choice

A tax audit is a(n)

A) IRS revision of previously filed return.
B) IRS attempt to verify accuracy of return.
C) IRS charge of illegal action.
D) U.S.Tax Court action.
E) U.S.Tax Court decision.

Correct Answer: