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> audit tax compliance
audit tax compliance
Client Information
Verify client's legal name
Obtain Tax Identification Number (TIN)
Confirm business structure (e.g. corporation, partnership)
Income Tax Returns
Review previous year's tax return
Ensure all required schedules and forms are included
Check for accuracy of income and deductions reported
Business Expenses
Review documentation for all expenses claimed
Ensure expenses are supported by receipts or invoices
Verify proper allocation of expenses to correct categories
Tax Credits and Deductions
Verify eligibility for any tax credits claimed
Ensure all available deductions have been taken
Review documentation for any unusual deductions
Compliance with Tax Laws
Verify compliance with federal, state, and local tax laws
Review any recent changes in tax laws that may impact client
Ensure all tax payments have been made on time
Recordkeeping
Review client's recordkeeping practices
Ensure all required documentation is being maintained
Provide guidance on improving recordkeeping practices
Communication with Client
Discuss any potential tax issues with client
Provide recommendations for minimizing tax liability
Answer any questions client may have about tax compliance
Final Review
Review checklist to ensure all items have been addressed
Obtain client's signature on completed checklist
Provide client with a copy of checklist for their records.
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