“With over 400 flow-thru returns reported on the Form 1040, it is not possible to obtain the resources available to examine all potential issues,” I.R.S. agents said of Mr. Trump’s tax ...

By contrast, it only audited 582,944 tax returns for an audit rate of about 0.2%. However, because of the widening tax gap , ...

Common triggers for an IRS audit. Your chances of being audited are slim — fewer than one in 10 taxpayers was audited for returns filed between 2013 and 2021, the IRS reported. Tax audits can ...

Significant reductions in the IRS workforce appear to be increasing the number of 'no change' audit closures. The shift could ...

Some workers may be rethinking their finances as jobless claims tick up. Ameriprise Financial private wealth adviser Justin Samples joins Wealth to explain how to do a mid-year audit of your ...

An audit is an unbiased examination of the financial statements of an individual or organization. Three main types are external audits, internal audits, and IRS audits.

Although a financial statement audit has many great benefits, a compliance audit has a different scope and is a needed, additional effort to ensure our hard-earned tax dollars are being spent ...

Citing "years of underfunding" that "led to the lowest audit rate of wealthy filers in our history," Werfel announced an artificial intelligence-enhanced push to probe 75 partnerships that have an ...

The data-driven audit: Technology and the future of auditing. Cathy Rowe, Senior Vice President and Segment Leader, U.S. Professional Market, Wolters Kluwer Tax & Accounting North America, discusses ...