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jbcjr14 04-17-2006 05:37 PM

F...Audits
 
I'm talking anykind of audit (IRS, Insurance, etc.). I am currently going through a detailed underwriting audit and it really sucks. Stuff from 6-12 months ago just doesn't ring a bell! F the audit and F the auditor!

saden1 04-18-2006 02:02 AM

Re: F...Audits
 
If the IRS audits me I am f'ed...then again, I doubt there's anyone out there who isn't f'ed if audited by the IRS.

jbcjr14 04-18-2006 08:31 AM

Re: F...Audits
 
I have been audited by the IRS, if you have all the documents its nothing more than a very intrusive pain in the ass!

TheMalcolmConnection 04-18-2006 08:36 AM

Re: F...Audits
 
What pisses me off about the IRS is it seems they only target people who are hard-working honest people who are lower to middle class. Like it seems every year I have a friend who gets audited for no reason at all.

jbcjr14 04-18-2006 08:45 AM

Re: F...Audits
 
Unfortunate objects of the "random" check. Sucks, it has happened to me.

TheMalcolmConnection 04-18-2006 09:08 AM

Re: F...Audits
 
What exactly do they check? Like what do you have to prove to them?

dmek25 04-18-2006 09:12 AM

Re: F...Audits
 
i think if you have a ton of reductions that triggers an alarm

TheMalcolmConnection 04-18-2006 09:20 AM

Re: F...Audits
 
Ahhh, I see. Anyone know of the maximum amount of money you can make on a side-business that you don't have to report to the IRS?

jbcjr14 04-18-2006 09:23 AM

Re: F...Audits
 
Its different triggers every year. They hit us because we showed some pretty good income and paid 40% taxes cause the money was transacted overseas.....its all legit and was not a problem, but they are a pain in the ass.

TheMalcolmConnection 04-18-2006 09:24 AM

Re: F...Audits
 
God forbid they don't drain ALL the money out of the hard working people of America.

cpayne5 04-18-2006 09:25 AM

Re: F...Audits
 
A relative of mine owns a motorcycle dealership. They started it about 6 years ago and after the third year they got audited. The auditor told them that they hadn't been doing their taxes correctly and they had to pay some fines. They then changed their operating procedures to adhere to what the auditor told them. This past year, they got audited again. This new auditor said that the previous auditor was wrong and that their new procedures were wrong. They ended up having to pay a $60k fine this go around.

jbcjr14 04-18-2006 09:28 AM

Re: F...Audits
 
They should still have some major recourse on the prior auditor and should contest that they were told to handle their stuff the way they handled it. I would bet they can contest that issue with an appeal and win if its documented well.

TheMalcolmConnection 04-18-2006 09:30 AM

Re: F...Audits
 
[quote=cpayne5]A relative of mine owns a motorcycle dealership. They started it about 6 years ago and after the third year they got audited. The auditor told them that they hadn't been doing their taxes correctly and they had to pay some fines. They then changed their operating procedures to adhere to what the auditor told them. This past year, they got audited again. This new auditor said that the previous auditor was wrong and that their new procedures were wrong. They ended up having to pay a $60k fine this go around.[/quote]

Yeah, I mean just like with ANY legitimate business, if you mess up, that's not your fault. That should have been the IRS's bad.


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