It sounds like the data entry error was caught with an automated review.Does finding a data entry error on a tax return make it more likely that the return will be more throughly audited? As Bill said, you won't know what's going on until you see the letter. What year are we talking about, and when was that year filed? If it's not a recently filed return, it's no error discovered in processing, it's an audit. There are some things, generically called math errors, that can be corrected without an audit and the additional tax assessed automatically. These require specific authorization in the law. Everything else is under the audit procedures as described in the law.What level of audit remains to be seen, but in most cases IRS gets only one bite of the audit apple.PhilRule Your Retirement Home Fool
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra