BUISENESS MANAGEMENT
TAXES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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When one receives a letter in the mail from the IRS requesting tax documentation. Which term describes this process?
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Audit
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Tax evasion
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Tax exemption
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Proportional tax
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Explanation:
Detailed explanation-1: -The IRS sends notices and letters for the following reasons: You have a balance due. You are due a larger or smaller refund. We have a question about your tax return.
Detailed explanation-2: -Just because you receive a letter from the IRS doesn’t mean you’re being audited. In many cases, the IRS will send a letter simply asking for additional information or clarification of details listed on your tax return. An IRS audit letter will come to you by certified mail.
Detailed explanation-3: -Correspondence audits are the most common IRS audit types. The Internal Revenue Service conducts this audit to request additional documentation from taxpayers.
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