Accounting Articles > IRS Audit:
IRS audit adjustment
At the end of an Internal Revenue Service audit, one would hope for what is called a “No Change” letter.
This basically means that they haven’t found any material changes which need to be made to the return, and that no additional tax is due.
If there are material changes which need to be made the return, then the IRS will send a letter detailing the adjustments along with a bill for the additional tax, interest, and penalty, which will be due. If at all possible, try to pay this as soon as you can. You won’t want to face additional interest on this already difficult to pay bill.
The main thing to remember is that once they audit a return for a particular year, they can’t go back. They can’t audit the same year twice.
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