I've read a few posts here that talks about some sellers getting auditted, but it doesn't really go into details. What does an audit actually look like. Do two men in trenchcoats show up at your door like in the movies? Or is it as simply as a letter saying you need to provide proof/receipts for "X, Y and Z"? While I'm here, also would a bank account with a few thousand dollars moving in and out (while the balance slowly rises) trigger an audit, or does the TaxMan on...

Over the years I have been audited for income tax 3 times, 1st in the early 1980's, second in the 1990's, last one around 2010.First there is a snail mail letter, then a time for the ausitor to show up is arranged, normally by phone. In all 3 of my audits it was just one person that showed up. The 1st audit was lengthy and painful, the second saw no changes although the auditor did fine a few mistakes but it affected both sales and expenses so he was not goingto waste time recalculating things....

Tax Return Audits. What do these actually look like? | Selling

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Tax Return Audits. What do these actually look like? | Selling | eBay Canada EN