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The IRS has recently completed its audit of Lorene's corporation. As a tax novice, she has very little understanding regarding the audit process and what happens next. Describe the post-audit process for Lorene and identify her options.
Capital Needs
The amount of funding a business or project requires in order to finance its operations, investments, and growth effectively.
Business Plan
A detailed document outlining the goals, strategies, financial forecasts, and operational structures of a business intended to guide its growth and success.
Funds
Financial resources that are allocated for a specific purpose, project, or investment.
Legal Entity
An organization that has legal rights and obligations, including the ability to enter into contracts and own property, separate from its individual members.
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