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New York income tax withholding audits What businesses need to knower more information on multistate income tax withholding and audit risks, visit our website: ey.com/us/getonboard #EYGetOnBoardForeword04New

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What is withholding and audit risks?

Withholding refers to the amount of money that is held back from an individual's paycheck for various purposes such as taxes or loan repayments. Audit risks refer to the likelihood of an organization being audited by tax authorities to ensure compliance with tax laws.

Who is required to file withholding and audit risks?

Employers are required to file withholding information for their employees and organizations are at risk of being audited by tax authorities.

How to fill out withholding and audit risks?

Withholding information must be filled out by employers accurately and completely, and organizations must maintain proper records to mitigate audit risks.

What is the purpose of withholding and audit risks?

The purpose of withholding is to collect taxes or other obligations owed by the individual, while audit risks help ensure compliance with tax laws and regulations.

What information must be reported on withholding and audit risks?

Withholding information includes employee salary, deductions, and tax withholdings, while audit risks may involve financial statements, transaction records, and tax returns.

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