The IRS Audit Blog

Posts Tagged ‘audit’

Question: Do we have a constitutional challenge brewing here?

I mean I’m not a lawyer, but I read several Articles and sections of the Constitution. It is a breathing living document that cannot be altered. Pretty clear that the government cannot force the people to pay a national tax where those tax dollars are to fund itself ( 16,000 IRS agents to audit and obtain fines ) as a mandate for non compliance or by penalty force to purchase a “private” sector product. That is to either be left to the states or the people through a vote – made clear by the Constitution.

The commerce clause does not apply as the mandate to purchase options ( private sector ) is not portable.
The assertion that car insurance is required is ridiculous as that in itself is a “states” issue and does not apply to non vehicle owners or non drivers.

Do we have a constitutional challenge brewing here?

Answer: Absolutely not. The constitution specifically allows Congress to tax and that’s all they have done. Exempting some people from the tax is well within their prerogative.

Sunrise Senior Living Reaches Settlement with the SEC

MCLEAN, Va., July 23 /PRNewswire-FirstCall/ — Sunrise Senior Living, Inc. (NYSE: SRZ) announced today that it has reached a settlement with the U.S. Securities and Exchange Commission (“SEC”) relating to the SEC’s previously disclosed investigation of the Company. Under the settlement, the Company has consented, without admitting or denying the allegations in the SEC’s complaint, to the entry …

IRS Compliance from irstaxuniversity.com

Question: 5 senate Dems say health care plan violates O’s pledge to not raise taxes on those making less than 250.000/y?

What can be done to shut them up? Can they be bought or should we just send in SEIU thugs to take care of them? How about an IRS audit? What do you think?

Answer: Exactly……Even some Dems are not thieves

Baker nonprofit late filing taxes for 2005, 2006, drew warnings

A nonprofit education organization run by Prince George’s County executive candidate Rushern L. Baker III failed to file its taxes on time from 2005 to 2007, accruing penalties and repeated warnings from state charity regulators, according to tax documents obtained by The Gazette.

How To Bluff Your Way Through an IRS Audit

Question: what do you need for a sales tax audit for a small bar ? (MN)?

I did get a list but do not have most of the reports they need. who has been through a audit for a bar? I would just like to be ready for the audit. any help would be great

Answer: For all sales Tax Audits, you will have 3 main categories where you are being audited: Sales, Expenses, Assets.

My answer is assuming that you have adequate books and records. If you don’t have adequate books and records, then there are more hoops to jump through.

For Sales, you will need cash register receipts, possibly cover charge receipts (depends on the state), daily reconciliations, sales journal, general journal. Other sales records may be requested. This part is usually done on a test basis.

For expenses, you will need to provide the auditor with a chart of accounts or a trial balance so the auditor can select the expense accounts to review. Then, you will need to provide the auditor with all purchases made for the selected expense accounts. This is usually done a test basis.

For Assets, you will need to provide the auditor with all invoices for anything that was depreciated during the audit period. Also, you will need to provide records for any asset disposals.

Sales and use tax returns will need to be provided along with income tax returns for the business.

If the business does not have adequate books and records, more information will need to be gathered. The auditor can use other factors to determine sales such as rent, supply purchases, and observation tests.

Antioch voters to decide on sales tax increase

Business owners fear a half-cent hike will drive shoppers to other cities.

Harmonized Sales Tax MP’s Slush Fund KPMG Audit 2010

Question: Question about IL CPA accounting courses requirement.?

I need four accounting hours to sit for the IL CPA. I need an audit course. I want to take the course online or through correspondence.

Are there any four hour audit courses, or one hour accounting courses? I only see three hour auditing courses.

Any other ideas?

Answer: I’m pretty sure I have taken a 4 hour auditing course at Ohio State. Where are you looking at? There are thousands of universities, one of them must have a 4 hour auditing course…good luck!

Treasurer’s actions raise more and more questions

Beaufort County Treasurer Joy Logan continues to offer interesting insights into her operation.Thi

Liberty Tax Service

The Big Tax Increase Facing Small Business

Hedge fund taxes get all the attention. Congress is about to raise billions in taxes on some doctors, accountants and architects.

Boca Raton Tax Accountant, Business Tax Audit Boca, FL, 33431