Tom Maguire: Have your tax affairs in order when Revenue comes knocking
The key to a successful outcome in any audit is to take a proactive approach to compliance by doing regular self-reviews and ensuring that everything is as it should be
The Tax Appeals Commission (TAC) published a decision recently which held in favour of Revenue going beyond the four-year statute of limitations on audits.
It did so in a case where an official had “reasonable grounds for believing” that there were irregularities in the prior years due to neglect or fraud.
That “reasonable grounds” test sets a bar higher than a mere hunch, but it’s still lower than concluding beyond a reasonable doubt....
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