An examination report is any explanation of factual findings that are given in the form of a report after examining something. Examination reports are often seen as the findings issued by the Internal Revenue Service (IRS) to taxpayers disclosing the results of a tax audit. Specifically, the IRS will send the taxpayer a Letter 525 notifying the taxpayer of the audit findings and of any adjustments to their tax return. The taxpayer can dispute the adjustments, but must do so within 30 days in the manner instructed in the Letter 525.
[Last updated in March of 2022 by the Wex Definitions Team]