Results of My IRS Audit

B. Kidd

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Got the determination yesterday. I owe. The sum could have been higher, could have been lower. The audit covered a three year period. Audit started in early July. Gathering the paperwork for that 3 year period was a total pain in the ass. But I do feel the determination was fair.
All I can advise off of this experience, as it was my first, and hopefully last audit, is that you save all of your financial records for the past seven years (I did), as the IRS has and is hiring more agents everyday.
If it can happen to me, it can happen to you, but I hope not.
 

Toro

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I've kept every single piece of paper for every tax return since I started filing taxes over 20 years ago.

I was "mail" audited for a discrepancy between my returns and what my broker was showing last year. The IRS said I owed $3000. But they were wrong, I showed them where, and I wound up getting a $15 check back. Ha!
 

Ravi

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Got the determination yesterday. I owe. The sum could have been higher, could have been lower. The audit covered a three year period. Audit started in early July. Gathering the paperwork for that 3 year period was a total pain in the ass. But I do feel the determination was fair.
All I can advise off of this experience, as it was my first, and hopefully last audit, is that you save all of your financial records for the past seven years (I did), as the IRS has and is hiring more agents everyday.
If it can happen to me, it can happen to you, but I hope not.
Will they put you in jail for being a tax cheat?
 
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Got the determination yesterday. I owe. The sum could have been higher, could have been lower. The audit covered a three year period. Audit started in early July. Gathering the paperwork for that 3 year period was a total pain in the ass. But I do feel the determination was fair.
All I can advise off of this experience, as it was my first, and hopefully last audit, is that you save all of your financial records for the past seven years (I did), as the IRS has and is hiring more agents everyday.
If it can happen to me, it can happen to you, but I hope not.
Will they put you in jail for being a tax cheat?
Heavens no, he's being offered a Cabinet position.
 
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B. Kidd

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I've kept every single piece of paper for every tax return since I started filing taxes over 20 years ago.

I was "mail" audited for a discrepancy between my returns and what my broker was showing last year. The IRS said I owed $3000. But they were wrong, I showed them where, and I wound up getting a $15 check back. Ha!
This was no mail audit.
3 meetings with the agent.
Kept asking for additional paperwork.
Saved it. The pain in the ass was locating it to cover a three year period.
 
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B. Kidd

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Got the determination yesterday. I owe. The sum could have been higher, could have been lower. The audit covered a three year period. Audit started in early July. Gathering the paperwork for that 3 year period was a total pain in the ass. But I do feel the determination was fair.
All I can advise off of this experience, as it was my first, and hopefully last audit, is that you save all of your financial records for the past seven years (I did), as the IRS has and is hiring more agents everyday.
If it can happen to me, it can happen to you, but I hope not.
Will they put you in jail for being a tax cheat?
Heavens no, he's being offered a Cabinet position.
I should've used TurboTax instead of the same CPA for the last 13 years. Might've done a lil' bit better......:lol:.
 
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B. Kidd

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Got the determination yesterday. I owe. The sum could have been higher, could have been lower. The audit covered a three year period. Audit started in early July. Gathering the paperwork for that 3 year period was a total pain in the ass. But I do feel the determination was fair.
All I can advise off of this experience, as it was my first, and hopefully last audit, is that you save all of your financial records for the past seven years (I did), as the IRS has and is hiring more agents everyday.
If it can happen to me, it can happen to you, but I hope not.
Will they put you in jail for being a tax cheat?

Naw! I'll cut em' a check, won't appeal it. Judgement was fair.
 
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B. Kidd

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Got the determination yesterday. I owe. The sum could have been higher, could have been lower. The audit covered a three year period. Audit started in early July. Gathering the paperwork for that 3 year period was a total pain in the ass. But I do feel the determination was fair.
All I can advise off of this experience, as it was my first, and hopefully last audit, is that you save all of your financial records for the past seven years (I did), as the IRS has and is hiring more agents everyday.
If it can happen to me, it can happen to you, but I hope not.
Will they put you in jail for being a tax cheat?
Well Ravi, fortunately I won't end up in a chain gang (much to your chagrin?).
What I had with the IRS, only turned out to be a failure to communicate......

[ame=http://www.youtube.com/watch?v=1fuDDqU6n4o]cool hand luke - YouTube[/ame]
 
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B. Kidd

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I'll add that I do know my place. The 'boss' was fair and I deserved a financial beat down. I just hope the 'boss' understands that.
I know the 'boss' didn't want to beat me down just as much as I didn't want to get beat down.
But, afterall, theys da' boss!
 

Ravi

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Nah, I'm just saying that if you were a Democrat you'd be accused of being a tax cheat.

I have had my ups and downs with the IRS but they have always been fair with me. The code is pretty complicated. Even accountants fuck up sometimes.l
 

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