Is Our Foundation Likely to Experience an IRS Audit? - Exponent Philanthropy

Is Our Foundation Likely to Experience an IRS Audit?

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Audits of foundation returns by representatives of the Internal Revenue Service or state attorney general are infrequent and typically routine—and result in no change to the foundation’s returns as filed. Yet, foundations are wise to protect themselves in the event of future inquiries.

What are the areas typically scrutinized, and what steps should a foundation take as a matter of good governance?

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