The IRS Audit Blog

Archive for the ‘Being Audited’ Category

Question: I filed my taxes from 2009 on Jan.17th, I owed about $20,000 from 2006-2007 .?

I am on a payment plan and have the taxes directly taken from my paycheck. I am expected a refund of about $55,000 this year. I e-filed with no problems, but on the day of Direct Deposit Feb 12th the site says “Delay with a code 1201″. Is this an audit or just the normal procedure when you owe back taxes. FYI they are still taking the taxes out of my paycheck. It’s over 2 months already. Any help would be appreciated.

Answer: What is likely happening is that your return was pulled aside for review due to either the large refund, the fact the you have past due debt or both. It is likely that the IRS will hold the portion of the refund necessary to settle the past tax debt and send you the remainder. With such a large refund there likely will be a delay while they verify the correctness of the return.

Bulgarian Audit Office Sends Registry Agency to Prosecutor

Bulgaria’s National Audit Office (NAO) had discovered public procurement orders’ violations at the Registry Agency. NAO had conducted an audit for the period January 1, 2008 – December 31, 2009, and part of the report has been sent to the Prosecutor’s Office.

How To Avoid an IRS Tax Audit

Question: Is there a possible penalty if I screw up my tax return?

I’m trying to figure out how to claim forex losses on my ‘08 tax return and I’m not certain. Filling out schedule D would take longer than it would be worth. I’ve read in many places that I can just write the losses on line 21 of 1040.

I plan to do that and attach a copy of my brokerage statements along with a sheet showing the ‘Performance Record Approach’ of figuring the loss.

My question: If I screw this up and the IRS ends up auditing me or working on the return themselves to fix it or something else, can I be penalized?

I’m not trying to ‘cheat’ or anything and I do not think it would be viewed like that. Just perhaps a screwup since I did not have a professional do the job.

Answer: Your method will not work. You assume that a person will be reviewing your return, which isn’t the case. It’s a computer. Your brokerage sends the IRS a form which states all your sales of stock for the year. When the computer doesn’t have a Schedule D to go against, it assumes all those sales were ALL GAINS (which is rarely the case). You then will receive a notice in the mail stating that you owe the IRS an outrageous sum of money. Then the IRS will ask you to file a Schedule D to show the gains and losses.

So just file the Schedule D to begin with. It will be much easier in the long run.

WORK PRODUCT PROTECTS INTANGIBLE CONTENT

The first and obvious argument of the Government was that the Deloitte memorandum as a threshold matter could not be protected work product because Federal Rule of Civil Procedure 26(b)(3) requires that work product must be created by a party or party representative.

IRS Problems Houston IRS Harassing You? Get FAST Pain Relief!

Question: Does John McCain Want Entanglement of The Health Benefits & Presumed Tax Credits with the IRS Audits & Levies?

Already the IRS took the last George W Bush stimulus package pay outs through disputed and contested levies on both spouses even if only one was levied only. No one cent was received. The IRS TOOK ALL..
Now repeat with John McCain health credit all will be taken by the IRS if there would be a Levy pluse huge scary penalties.

Answer: http://www.realclearpolitics.com/articles/2008/10/government_cant_do_it_all_or_e.html

Officials’ salaries revealed

This article has been read 5870 times. The furor in Bell, Calif., over the bloated salaries of city officials, currently making nationwide headlines, prompted a Canton Township resident to wonder aloud, “Could this happen here?”

Question: on parole and have an IRS audit that cannot prove?

I know someone that is on parole on drug related issues and they have an IRS audit that they just received from their taxes last year. They claimed someone elses children and gave that person money when the check came in. Now they do not have any proof of supported these childred financially. What will happen???

Answer: Say hello silver bracelets.

PRIMARY 2010 – 13TH CONGRESSIONAL DISTRICT: REPUBLICANS

Crowded field of six is competing for nomination as 13th District’s rep What is the most important issue facing the district right now and how would you address it? Brihan: Once Congress passed Obamacare, repealing it became the most important issue. Currently, you, the patient are in charge of selecting the course of action regarding your health [...]

Tax CPA in Houston – Tax Solutions for You and Your Business!

Amid Fuss Over Illegal Immigrants, They’re Already Going Home

For 10 years, Ezequiel Gonzalez and his wife, Lupe, feared that their lives as illegal immigrants in America would be discovered. One spring evening two years ago, it finally happened.

Death Proof Gettin scared audition tape