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saden1 01-12-2009 10:36 PM

IRS Examination vs Auditing
 
I'm being "examined" by the IRS. Apparently stocks I bought and sold have a cost basis of zero in their eyes. Anyone know what the difference between an examination and an auditing? Is it just semantics?

FRPLG 01-12-2009 10:59 PM

Re: IRS Examination vs Auditing
 
examination = audit. Sounds like W is sticking it to you before he's out of office. j/k good luck with it.

firstdown 01-13-2009 09:22 AM

Re: IRS Examination vs Auditing
 
MAybe it means that they are reviewing your return closer to see if your numbers add up v/s an audit where you sit down with someone to review your return. I'm still waiting for my 07 tax refund and my 07 stimulas check.

FRPLG 01-13-2009 11:30 AM

Re: IRS Examination vs Auditing
 
[quote=firstdown;520028]MAybe it means that they are reviewing your return closer to see if your numbers add up v/s an audit where you sit down with someone to review your return. I'm still waiting for my 07 tax refund and my 07 stimulas check.[/quote]

Nope. An examination is the same as an audit.

You should have received both of those unless the IRS has notified you of some problem. It is way past time.

Schneed10 01-13-2009 01:40 PM

Re: IRS Examination vs Auditing
 
What FRPLG said. Audit and Examination are synonymous. And yeah Firstdown, I'd be calling the IRS to find out what the hell happened to your money.

dmek25 01-13-2009 02:17 PM

Re: IRS Examination vs Auditing
 
good luck saden. hope all is on the up and up:)

saden1 01-13-2009 03:15 PM

Re: IRS Examination vs Auditing
 
Thanks guys, I should have it all sorted out on by weekend.

Oh and I'm always on the up and up...I'm not crazy enough to mess with an organized crime syndicate.

mredskins 01-13-2009 04:30 PM

Re: IRS Examination vs Auditing
 
[quote=saden1;520109]Thanks guys, I should have it all sorted out on by weekend.

Oh and I'm always on the up and up...I'm not crazy enough to mess with an organized crime syndicate.[/quote]


Nice cover if they research your posting history. Very well played.

firstdown 01-13-2009 04:30 PM

Re: IRS Examination vs Auditing
 
[quote=Schneed10;520071]What FRPLG said. Audit and Examination are synonymous. And yeah Firstdown, I'd be calling the IRS to find out what the hell happened to your money.[/quote]
I filed my taxes on the last day of the extension that we filed so it has not been that long but its seem that way as its one year I actually get money back.

FRPLG 01-13-2009 10:44 PM

Re: IRS Examination vs Auditing
 
Ah...didn't mention an extension. You're return probably gets a good look if you've filed an extension and they end up owing you money.

firstdown 01-14-2009 09:34 AM

Re: IRS Examination vs Auditing
 
[quote=FRPLG;520229]Ah...didn't mention an extension. You're return probably gets a good look if you've filed an extension and they end up owing you money.[/quote]
Well I have never had an audit in the past 14 years sense I have been in business. My Taxes stay pretty cosistent from one year to the next so they never really throw up any red flags. I file an extension every year as he has to complete my corp. taxes before they can even start on my personal taxes. Not sure if its true or not but my CPA says that the IRS has to do so many audits and by filing an extension the chances become less likley to get audited as they have allready hit their numbers. That could also be a bunch of BS but so far it seems to work.


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