tax audit

  1. J

    C-corp tax liability from previous owner

    Is the current owner of a C-Corp responsible for tax audits from previous years. I am buying a c-corp, the seller is not disclosing all details of tax returns such as expense receipts etc. If IRS comes for an audit of previous years when i was not the owner, How will it work? Would they go to...
  2. What is the Statute of Limitations on an IRS Audit?

    Tax Audits What is the Statute of Limitations on an IRS Audit?

    Generally, the IRS can include returns filed within the last three years in an audit. According to information contained on the IRS website, the IRS tries to audit tax returns as soon as possible after they are filed. This means that most IRS audits will be of returns filed within the last two...
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