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Describe the Types of Audits That the IRS Conducts

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Describe the types of audits that the IRS conducts.


Definitions:

Shareholders

Individuals or entities that own shares in a corporation, giving them certain rights such as voting on corporate matters.

Corporation

A legal entity that is separate and distinct from its owners, providing them with limited liability.

Damages Awarded

Monetary compensation ordered by a court to be paid to a plaintiff by a defendant as redress for harm or injury.

Right To Inspection

The legal ability to examine goods, documents, or property to ensure compliance with agreements, laws, or regulations.

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