Page 33 - F1 Integrated Workbook STUDENT 2018
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Features of Taxation and the Regulatory Environment





                           Powers of authorities





               The revenue authorities have various powers to impose penalties and interest on late
               payment of tax. In addition, they have the power to:

                    Review and query filed returns.

                    Request special reports if they believe inaccurate information has been
                     submitted.

                    Examine records of previous years (in the US, tax authorities can go back 20
                     years).

                    Enter and search the entity’s premises and seize documents

                    Pass on information to foreign tax authorities.



















































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