When reading the letter from the IRS alerting you of a business audit, it’s normal to get nervous. Even if you and your advisers had the best intentions when paying taxes, an audit can surprise you. You may start to wonder if an undetected miscalculation could harm your company’s financial health.
An audit does not always mean that your business is in legal or fiscal turmoil. In many cases, the IRS finds no major fault with taxes and resolutions can have minimal impact on the business.