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TaxAudit
TaxAudit is the public brand name of American tax firm TaxResources, Inc., which specializes in tax representation for individuals and small businesses. TaxAudit helps to alleviate the tax burden taxpayers face by offering audit defense and tax debt relief assistance. TaxResources, Inc. was founded in 1988. The firm became the exclusive provider of Intuit Corporation's TurboTax Audit Defense in 1999. TaxAudit is the largest audit defense firm in the country. They are headquartered in Folsom, California, with additional offices in Southern California. Overview TaxAudit is a membership organization that offers prepaid audit defense and representation services when a member receives an income tax audit In the United States of America, an income tax audit is the examination of a business or individual tax return by the Internal Revenue Service (IRS) or state tax authority. The IRS and various state revenue departments use the terms audit, examin .... They also provide audit defense ...
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Income Tax Audit
In the United States of America, an income tax audit is the examination of a business or individual tax return by the Internal Revenue Service (IRS) or state tax authority. The IRS and various state revenue departments use the terms audit, examination, review, and notice to describe various aspects of enforcement and administration of the tax laws. The IRS enforces the U.S. Federal tax law primarily through the examination of tax returns that have the highest potential for noncompliance. According to the IRS, " is identification is determined using risk-based scoring mechanisms, data driven algorithms, third party information, whistleblowers and information provided by the taxpayer. The objective of an examination is to determine if income, expenses and credits are being reported accurately." Audit process Selection process Generally, the IRS will contact a taxpayer who has been selected for audit by mail, rather than initiating an audit by phone call or in person. Providi ...
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TurboTax
TurboTax is a software package for preparation of American income tax returns, produced by Intuit. TurboTax is a market leader in its product segment, competing with H&R Block Tax Software and TaxAct. TurboTax was developed by Michael A. Chipman of Chipsoft in 1984 and was sold to Intuit in 1993. The company has been subject of controversy over its political influence and deceptive business practices. Intuit, the maker of TurboTax, has lobbied extensively against the Internal Revenue Service (IRS) creating its own online system of tax filing like those that exist in most other wealthy countries. Intuit is under investigation by multiple state attorneys general, as well as New York's Department of Financial Services. As part of an agreement with the IRS Free File program, TurboTax allowed individuals making less than $39,000 a year to use a free version of TurboTax; a 2019 ProPublica investigation revealed that TurboTax deliberately made this version hard to find, even through ...
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Corporation
A corporation is an organization—usually a group of people or a company—authorized by the state to act as a single entity (a legal entity recognized by private and public law "born out of statute"; a legal person in legal context) and recognized as such in law for certain purposes. Early incorporated entities were established by charter (i.e. by an ''ad hoc'' act granted by a monarch or passed by a parliament or legislature). Most jurisdictions now allow the creation of new corporations through registration. Corporations come in many different types but are usually divided by the law of the jurisdiction where they are chartered based on two aspects: by whether they can issue stock, or by whether they are formed to make a profit. Depending on the number of owners, a corporation can be classified as ''aggregate'' (the subject of this article) or '' sole'' (a legal entity consisting of a single incorporated office occupied by a single natural person). One of the most att ...
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Folsom, California
Folsom is a city in Sacramento County, California, United States. It is commonly known for Folsom State Prison, the song "Folsom Prison Blues" by Johnny Cash, as well as for Folsom Lake. The population was 80,454 at the 2020 census. Folsom is part of the Sacramento−Arden-Arcade− Roseville Metropolitan Statistical Area. History Folsom is named for Joseph Libbey Folsom who purchased Rancho Rio de los Americanos from the heirs of San Francisco merchant William Alexander Leidesdorff, and laid out the town called Granite City, mostly occupied by gold miners seeking their fortune in the Sierra Nevada foothills. Though few amassed a great deal of wealth, the city prospered due to Joseph Folsom's lobbying to get a railway to connect the town with Sacramento. Joseph died in 1855, and Granite City was later renamed Folsom in his honor. The railway was abandoned in the 1980s but opened up as the terminus of the Gold Line of Sacramento Regional Transit District's light rail service in ...
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United States
The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territories, nine Minor Outlying Islands, and 326 Indian reservations. The United States is also in free association with three Pacific Island sovereign states: the Federated States of Micronesia, the Marshall Islands, and the Republic of Palau. It is the world's third-largest country by both land and total area. It shares land borders with Canada to its north and with Mexico to its south and has maritime borders with the Bahamas, Cuba, Russia, and other nations. With a population of over 333 million, it is the most populous country in the Americas and the third most populous in the world. The national capital of the United States is Washington, D.C. and its most populous city and principal financial center is New York City. Paleo-Americ ...
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Tax Audit Representation
Tax audit representation, also called audit defense, is a service in which a tax or legal professional stands in on behalf of a taxpayer (an individual or legal entity) during an Internal Revenue Service (IRS) or state income tax audit. Overview In the United States, during an income tax audit or examination, the IRS and all states allow a taxpayer to have an authorized representative. The representative must be authorized to practice before the IRS or state, and specific credentials are required. The types of representatives who are allowed to represent taxpayers before the IRS in income tax audits include Attorneys in the United States, attorneys, Certified Public Accountant, certified public accountants, and enrolled agents. An audit representative develops the strategy used to defend the taxpayer's position. He or she assists the taxpayer in preparing all documents requested by the taxing authority and typically attends all meetings and handles correspondence on behalf of the ta ...
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