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5 Elements of Tax Compliance
For many businesses, tax compliance is not an issue that only comes up once a year. Rather, for these businesses, tax compliance is a full time job for the business' IRS tax lawyers and accountants. According to the IRS, tax compliance has three dimensions - filing, payment, and reporting. In other words, in conducting an audit, the IRS asks three questions: Did the business' filings meet IRS regulations? Did the business' payments meet IRS regulations? Did the business report its activities