Specific Factors That Are Used in Selecting Tax Returns for Audit

question 17

Essay

Specific factors that are used in selecting tax returns for audit and the weights for such factors are not released to the public. Summarize the public information about tax audit selection; how might a tax return's chances of audit increase above national norms?

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Definitions:

Drafts

Written orders for the payment of a specified amount of money, typically used in international trade.

Checks

Written, dated, and signed instruments that direct a bank to pay a specific sum of money to the bearer or to the order of a specified person.

Uniform Commercial Code

A comprehensive set of laws governing commercial transactions in the United States, intended to standardize practices across states.

Special Kind

A term that refers to a unique or particular type or category of something, often used to specify or differentiate items or circumstances.