Having transparency as a company creates an excellent image to the world, making many people will like your organization. Start with compliance with the tax laws and the IRS regulations in general. This makes you have a cordial relationship with the authorities. The accuracy of your reporting needs to be accurate always; hence have skillful accountants in your team.

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Disparities in the reporting usually attract confirmation efforts by the IRS. This aims to see whether the figures are accurate and if not, they may want to know where the problem is. At times, the state tax department can do the audits as well.…