Tax audit defense - Checklist for Submitting Data to Tax Authorities

Page 4 of 4: Checklist for Submitting Data to Tax Authorities

Checklist for Submitting Data to Tax Authorities

• Have the data been thoroughly analyzed and a tax risk assessment conducted?
• What actions will the tax authorities take with this data? Will they conduct data analysis?
• Does failure to meet the submission requirements increase the risk of a tax audit?
• If the present implications are minimal, does the company maintain an audit trail that allows for retroactive investigation?
• Could this potentially compromise the tax positions taken, serve as ammunition for rebuttals, or lead to increased penalties?
• If the data provided does not conform to the required format, could this elevate the risk of a tax audit?

This checklist serves as a guide to ensure compliance and minimize tax-related risks when submitting data to tax authorities.