An IRS audit is a review/examination of an organization's or individual's accounts and financial information to ensure information is reported correctly according to the tax laws and to verify the reported amount of tax is correct. IRS audits are conducted either by mail (e.g., you receive a letter in the mail that you must respond to) or through an in-person interview.

Taxpayers who have been audited or otherwise interacted with the IRS should know that they have the right to know when the IRS has finished the audit. This article highlights seven points that you should know about the right to finality. 

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Your tax consultant at Sharrard, McGee & Co., PA is available to answer any further questions you may have about an audit or interaction with the IRS. Call (336) 884-0410 in High Point or (336) 272-9777 in Greensboro.