Taxation Accounting
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Aerospace Industry – Audit Techniques Guide
The Airline industry has a fascinating aspect of the audit technique guide. This is about the many refunds and exchange types that can be made on the airline tickets. These refunds include but not limited to the reissue and even exchanges, the partial or full refunds, reissue, and or the refunds, reissue with extra-charges. For any refund’s claims made, they are all processed as per the originality of the payment forms and adherence to stipulated rules on refunds of fares and any other exchanges therein.
For cases of tickets with claims on the refund with possible change on the earlier, destination and with a likely same charge of fare, this will require a reissue and even exchange. The refund claim is on a ticket with a higher charged fare, the policy for reissue and an extra additional charge on the customer will be required. And where the possible refund claim is on an original ticket with a non-refund or has a restriction, this will attract some fee, and a change in the amount of fare is ordinarily mandated for the possibility of exchange to effect for another ticket on the nonrefundable one. However, refunds on nonrefundable tickets are rarely issued (Irs.gov, 2005).
Most of the IRS cases and issues are resolved at the lowest levels of court matters. However, under some unlikely circumstances, the best outcomes of a matter may as well be resolved in much simpler mechanisms through Appeals. Appeals do provide the best forums that are objective in ensuring that all sides of a case are given equal chances and opportunities to present their cases and be heard most appropriately.
As part of a procedure to develop and implement plans on restructuring the Internal Revenue Services, the prohibition of ex-parte communications was also enforced between the appeals offices and others. For this independence, the hazards of litigation are that the appeals officer has new powers on the possibility of settling any case from IRS (thetaxadviser.com, 2016).
References
https://www.thetaxadviser.com/issues/2016/jan/irs-appeals-provides-pathway-to-settlement.html
https://www.irs.gov/businesses/corporations/aerospace-industry-audit-techinques-guide-january-2005