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Old 02-28-2014, 09:41 PM  
digger digger is offline
Thread I will end you.......
 
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14 Red flags that will get you audited

http://rare.us/story/14-red-flags-th...ed-by-the-irs/

1. You make too much money. The IRS will target those with incomes above $200,000. You have a 1 in 30 chance of being audited.

2. Not reporting taxable income. You must report all 1099s and W-2s, even if you believe them to be incorrect. (Deal with the discrepancies after filing.)

3. You give a lot of money to charity. The IRS knows what others who make similar income to you tend to give and will question you if you’re claiming too much.

4. Claiming day-trading losses on Schedule C.

5. Claiming rental losses.

6. Deducting business meals, travel and entertainment.

7. Claiming 100% business use of a vehicle. Be careful, salespeople! To counter any possible IRS questions, I know someone who keeps a paper log on the dashboard and writes down every mile for work, the date and what it was for. If you do want to claim all the cost for a business expense, be sure you have another vehicle too.

8. Writing off a loss for a hobby.

9. Claiming a home office deduction.

10. Taking an alimony deduction.

11. Running a business where almost all money is in cash.

12. Not reporting a foreign bank account.

13. Engaging in currency transactions

14. Taking excessive deductions. Again, the IRS knows what is outside normal bounds based on your income.
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Old 03-01-2014, 08:04 AM   #16
AndChiefs AndChiefs is offline
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Originally Posted by cosmo20002 View Post
I'd start gathering your records now if I were you.
So you admit you're an administration partisan?
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Old 03-01-2014, 08:08 AM   #17
BucEyedPea BucEyedPea is offline
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Quote:
Originally Posted by digger View Post
http://rare.us/story/14-red-flags-th...ed-by-the-irs/

1. You make too much money. The IRS will target those with incomes above $200,000. You have a 1 in 30 chance of being audited.

2. Not reporting taxable income. You must report all 1099s and W-2s, even if you believe them to be incorrect. (Deal with the discrepancies after filing.)

3. You give a lot of money to charity. The IRS knows what others who make similar income to you tend to give and will question you if you’re claiming too much.

4. Claiming day-trading losses on Schedule C.

5. Claiming rental losses.

6. Deducting business meals, travel and entertainment.

7. Claiming 100% business use of a vehicle. Be careful, salespeople! To counter any possible IRS questions, I know someone who keeps a paper log on the dashboard and writes down every mile for work, the date and what it was for. If you do want to claim all the cost for a business expense, be sure you have another vehicle too.

8. Writing off a loss for a hobby.

9. Claiming a home office deduction.

10. Taking an alimony deduction.

11. Running a business where almost all money is in cash.

12. Not reporting a foreign bank account.

13. Engaging in currency transactions

14. Taking excessive deductions. Again, the IRS knows what is outside normal bounds based on your income.
I've been audited twice and for some of the above. I wasn't even taking the home office deduction anymore either.

I came of of the second audit with the IRS owing me more money. The first one I went to court--eventually won.

Stand up for your rights folks!
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Old 03-01-2014, 03:49 PM   #18
nstygma nstygma is offline
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Originally Posted by cosmo20002 View Post
Audits? Link?
fwiw

http://blogs.wsj.com/washwire/2014/0...ps-for-audits/

On Tuesday, House Ways and Means Chairman Dave Camp (R., Mich.) said his committee’s continuing investigation has found that the IRS also singled out established conservative tax-exempt groups for audits.

“We now know that the IRS targeted not only right-leaning applicants, but also right-leaning groups that were already operating as 501(c)(4)s,” Mr. Camp said in a statement. “At Washington, DC’s direction, dozens of groups operating as 501(c)(4)s were flagged for IRS surveillance, including monitoring of the groups’ activities, websites and any other publicly available information. Of these groups, 83% were right-leaning. And of the groups the IRS selected for audit, 100% were right-leaning.”
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Old 03-01-2014, 04:13 PM   #19
digger digger is offline
Thread I will end you.......
 
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Quote:
Originally Posted by cosmo20002 View Post
Of course I'm aware of what happened, and audits of right-wing groups were not part of it. Also, the article cited here appears to have been written before the hearings.
Quote:
Originally Posted by nstygma View Post
fwiw

http://blogs.wsj.com/washwire/2014/0...ps-for-audits/

On Tuesday, House Ways and Means Chairman Dave Camp (R., Mich.) said his committee’s continuing investigation has found that the IRS also singled out established conservative tax-exempt groups for audits.

“We now know that the IRS targeted not only right-leaning applicants, but also right-leaning groups that were already operating as 501(c)(4)s,” Mr. Camp said in a statement. “At Washington, DC’s direction, dozens of groups operating as 501(c)(4)s were flagged for IRS surveillance, including monitoring of the groups’ activities, websites and any other publicly available information. Of these groups, 83% were right-leaning. And of the groups the IRS selected for audit, 100% were right-leaning.”
Hit with the facts, that got to hurt.
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Old 03-02-2014, 02:00 PM   #20
nstygma nstygma is offline
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Quote:
Originally Posted by cosmo20002 View Post
Audits? Link?
Did you have any comments about the link I provided you? I didn't actually read much of it. I wanted to hear from you whether it was accurate or not, before I waste my time with the rest.
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Old 03-02-2014, 03:00 PM   #21
cosmo20002 cosmo20002 is offline
Debunking your bullshit
 
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Quote:
Originally Posted by nstygma View Post
Did you have any comments about the link I provided you? I didn't actually read much of it. I wanted to hear from you whether it was accurate or not, before I waste my time with the rest.
I think the guy you cited is cherrypicking and simply tossing around the terms he would prefer to use, like "audit." This was about applications for non-profit status. Most importantly, it appears limited to one local office and there's no evidence at all of WH involvement.
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Old 03-02-2014, 03:10 PM   #22
LiveSteam LiveSteam is offline
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So then why did Lerner take the 5th, & why now is she asking for complete amnesty from congress?
If everything is on the up & up (we all know thats not the case) why the 5th?
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Old 03-02-2014, 03:20 PM   #23
LiveSteam LiveSteam is offline
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Originally Posted by cosmo20002 View Post
I think the guy you cited is cherrypicking and simply tossing around the terms he would prefer to use, like "audit." This was about applications for non-profit status. Most importantly, it appears limited to one local office and there's no evidence at all of WH involvement.
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