Business Tax Return Audit
Forms 1040 Schc, 1065, 1120, 1120s, or
Estates And Trusts Forms 706, 1041
How Businesses Are Selected For Audit
I've read that business tax returns are selected manually by IRS and then sent to the local office. I'm not sure how they pick the smaller business returns. I'm sure there is some computer analysis in the process. Larger dollar businesses that have millions of dollars worth of assets are selected based on the total assets they have. Either way, it really doesn't matter. Once you are selected, you must go through the process.
How To Avoid An Audit By Audit Proofing Your Return
Audit proofing your business tax return is a lot like audit proofing your personal return. This applies to partnerships, corporations, estates, trusts, etc.
- Make sure all schedules total correctly, and all totals carry over correctly to the right schedules.
- Anything that stands out on the return should have an attached schedule explaining the item.
For general information see IRS Audit
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