View Single Post
Old 01-14-2009, 09:34 AM   #11
firstdown
Living Legend
 
firstdown's Avatar
 
Join Date: Oct 2004
Location: chesapeake, va
Age: 62
Posts: 15,817
Re: IRS Examination vs Auditing

Quote:
Originally Posted by FRPLG View Post
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.
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.
firstdown is offline   Reply With Quote

Advertisements
 
Page generated in 0.48256 seconds with 10 queries