The Internal Revenue System (IRS) performs tax audits
to curtail fraud. They use special programs in order to monitor certain red
flags, most especially from businesses. These red flags will include
fluctuating incomes, numerous deductions and improperly filed returns.
In some cases, companies choose a voluntary disclosure
if they realize that they have tax liabilities in the past. Instead of just
waiting for a tax audit, they usually take the proactive approach which allows
them to restrict the look back period and taxes dues, and decrease penalties
and interests.
About the author: Frank
Franks is a business owner who benefited a lot from this site for providing him
ways on how to properly respond to a notice of sales tax audit sent by the IRS.
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