{"id":444,"date":"2016-04-26T15:43:55","date_gmt":"2016-04-26T15:43:55","guid":{"rendered":"https:\/\/wtpadvisors.com\/tp-blog\/?p=444"},"modified":"2024-02-12T18:23:51","modified_gmt":"2024-02-12T18:23:51","slug":"what-to-expect-when-youre-expecting-an-audit","status":"publish","type":"post","link":"https:\/\/wtpadvisors.com\/tp-blog\/what-to-expect-when-youre-expecting-an-audit\/","title":{"rendered":"What to Expect When You\u2019re Expecting\u2026 An Audit"},"content":{"rendered":"<div id=\"Text\">\n<p>By Kash Mansori, WTP Advisors<br \/>\nPosted: April 26, 2016<\/p>\n<p>No one enjoys going through the audit process. Yet the reality is that most medium and large-sized businesses in the US are likely to have their tax positions audited by the IRS sooner or later. And for companies that have international affiliates, that will inevitably entail an examination of their transfer pricing practices and documentation.<\/p>\n<p>Transfer pricing has been cited by IRS officials for years as one of their most important enforcement priorities. But as a direct result of BEPS (the OECD\u2019s Base Erosion Profit Shifting project), tax authorities around the world are actively engaged in the process of revising and tightening their expectations and requirements with respect to transfer pricing. The prospect of thorough and detailed examinations of taxpayers\u2019 transfer pricing positions is growing sharper every day, including here in the US.<\/p>\n<p>Fortunately, an important document exists that can help taxpayers be better prepared for the eventuality of their transfer pricing being audited by the IRS: the &#8220;Transfer Pricing Audit Roadmap&#8221;. This is a 26-page guide prepared by the IRS for its field agents to help them be better prepared to examine the transfer pricing positions of taxpayers, and lays out in considerable detail the process and expectations surrounding such an examination.<\/p>\n<p>WTP Advisors\u2019 Doug Schwerdt has prepared an excellent review of the Transfer Pricing Audit Roadmap, and provides some key insights that can help taxpayers be better prepared. Doug\u2019s summary and review can be accessed directly from the\u00a0<a href=\"https:\/\/wtpadvisors.com\/transfer-pricing\" target=\"_blank\" rel=\"noopener\">transfer pricing page<\/a> of the WTP Advisors&#8217; website.\u201d<\/p>\n<\/div>\n<div id=\"Footer\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Kash Mansori, WTP Advisors Posted: April 26, 2016 No one enjoys going through the audit process. Yet the reality is that most medium and large-sized businesses in the US are likely to have their tax positions audited by the IRS sooner or later. And for companies that have international affiliates, that will inevitably entail [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":503,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17,1],"tags":[],"class_list":["post-444","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-controversy","category-transfer-pricing"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What to Expect When You\u2019re Expecting\u2026 An Audit -<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wtpadvisors.com\/tp-blog\/what-to-expect-when-youre-expecting-an-audit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What to Expect When You\u2019re Expecting\u2026 An Audit -\" \/>\n<meta property=\"og:description\" content=\"By Kash Mansori, WTP Advisors Posted: April 26, 2016 No one enjoys going through the audit process. 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