Finance and Bookkeeping Outsource, IRS Validation

A long-time client who outsourced their entire internal finance and bookkeeping function to ChurchillTerry was selected by the IRS for a federal tax return audit. The audit lasted approximately 5 months and included numerous requests from the auditor. ChurchillTerry was able to produce documentation to comply with every request, including requests around payments to international contractors. After finding nothing in that year, the IRS then opened a following year audit that lasted a similar amount of time with similar requests. The result: back-to-back findings of "no change" results and no additional taxes or penalties for the client.