What AUDIT means: An IRS examination and verification of a taxpayer's return or other transactions with tax consequences. An office audit is an audit by the IRS that is conducted in the agent's office. A field audit is conducted by the IRS on the business premises of the taxpayer or in the office of the tax practitioner representing the taxpayer.
- Definition Advance Earned Income Credit:
- Dictionary Payment by an employer based on an employee's claim to entitlement to the earned income credit. Advance earned income credit payments are treated as additional taxes on the tax return audit definition.
- Definition Adjustment To Income:
- Dictionary An expense that may be deducted even if the taxpayer does not itemize deductions. Adjustments to income are subtracted from gross income to arrive at adjusted gross income audit explain.
- Definition Accelerated Cost Recovery System (ACRS):
- Dictionary depreciation mainly used for property placed in service after 1980 and before 1987. ACRS is also used for certain property placed in service after 1986 that is acquired from a related party who used audit what is.
- Definition Acquisition Debt:
- Dictionary Debt incurred to acquire, construct, or improve the taxpayer's principal or secondary residence audit meaning.
How works Audit meaning in Tax definitions A .
