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Analyzing Results

IRS IRC § 42 Audit Technique Guide — Part I (Introduction and Pre-Contact Analysis) · 2026 edition · updated 2026-07-29 · United States

Collectively, observations made during the tour of the project should be consistent with what the taxpayer explained during the interview and what was recorded in the books and records. What was observed and what wasn't? What was different than expected? Does it make sense?

  • Confirm that assets represented on the tax return were physically observed. If not, what happened to the asset? Was the asset something that could have been included in eligible basis? Were assets observed during the tours that are not represented on the tax return?

  • Were additional sources of income identified during the tour?

  • Were internal controls functioning? Can the books and records be relied upon?

  • Is the project operating in compliance with IRC §42 requirements?

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▸Contents — IRS IRC § 42 Audit Technique Guide — Part I (Introduction and Pre-Contact Analysis)
IRS IRC § 42 Audit Technique Guide — Part I (Introduction and Pre-Contact Analysis)

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