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Thread: irs audit

  1. #1
    axkiker
    Well I go to the mailbox today and it looks like the IRS sent me a little xmas present. I got a letter which said they want to review my 2004 returns. I need to send them proof of all my business expenses for that year.
    Ohh this is just wonderful considering I lost most of my records.
    OK so I think I can contact my past employeer for alot of the things I wrote off. However if I cant how do you all think I should handle it.
    We are not talking about a billion dollars here. Total business write off was around 15k. Any ideas what to do if im not able to find the records. Do I just have to bend over and take it or are their other avenues. My friend was audited and somehow he talked them down from having to pay 16k to a lil over 3k.
    help help help. If I have to pay it will seriously tap into the future new boat fund and that is not cool at all.

  2. #2
    YeLLowBoaT
    Well if you can't prove it, your out of luck( they should have a copy of your return... don't forget your state, most of them work off of the IRS returns, so there is anohter chance to find it.). I am pretty sure what your friend did was a "payment in compramise". its very commen, but you have to have the money right then.( 3k out of 16k does not happen... its more like you ow us 15k if you pay 10-12k now we will forget the rest) What ever you do, if you make a arangement with them to pay off what you ow, don't break it.

  3. #3
    IT'SONLYMONEY
    we just had the same thing happen.
    stand by, once you are in there they have the right to do you for three years consecutively. i got the latter stating they wanting to see the same stuff basically and proof of all my contributions over the year and when i went to see the irs they said, by the way we are going to do you for 03, 04, and 05. i owe them 3k at christmas time, wtf......
    if you don't have reciepts get them any way possible. if you can't show proof of your ventures you are screwed. they will not negotiate because they plug all the crap into a computer and it tells them what you are going to owe. what ever reciepts you may have they will deduck it from what you owe and then the left over non provable write offs are your responsibility. ouch.
    owing over 10k though you have more options in pay back and what you can afford and the irs will take money off just to get some money back.
    i know this doesn't help but good luck and get your receipts

  4. #4
    axkiker
    No I should not owe even close to 10k. I wrote off around 15k or so in 05. Thats what I wrote off as unreimbersed business expenses. Of course they dont give that whole amount back only the portion that was paid in tax for that amount. It was around 3k or so back. So I guess at the worst ill pay that back to them.
    we just had the same thing happen.
    stand by, once you are in there they have the right to do you for three years consecutively. i got the latter stating they wanting to see the same stuff basically and proof of all my contributions over the year and when i went to see the irs they said, by the way we are going to do you for 03, 04, and 05. i owe them 3k at christmas time, wtf......
    if you don't have reciepts get them any way possible. if you can't show proof of your ventures you are screwed. they will not negotiate because they plug all the crap into a computer and it tells them what you are going to owe. what ever reciepts you may have they will deduck it from what you owe and then the left over non provable write offs are your responsibility. ouch.
    owing over 10k though you have more options in pay back and what you can afford and the irs will take money off just to get some money back.
    i know this doesn't help but good luck and get your receipts

  5. #5
    IT'SONLYMONEY
    yeah for that year just cross you fingers that they don't go back two more years. they get you coming and going. they hold your money all year with no interest but they sure want their interest when you are paying them.

  6. #6
    axkiker
    well actually if they go back to 2003 or earlier im safe. I have all that stuff. Its a long story but i lost all the 04 and 05 stuff.
    so we will see.
    yeah for that year just cross you fingers that they don't go back two more years. they get you coming and going. they hold your money all year with no interest but they sure want their interest when you are paying them.

  7. #7
    YeLLowBoaT
    I'm just wondering, how do you lose 2 years of tax forms and stuff?( 2 recent years for that matter.)

  8. #8
    ratso
    You could always tell them to just F#CK OFF...

  9. #9
    Beer-30
    we just had the same thing happen.
    stand by, once you are in there they have the right to do you for three years consecutively. i got the latter stating they wanting to see the same stuff basically and proof of all my contributions over the year and when i went to see the irs they said, by the way we are going to do you for 03, 04, and 05. i owe them 3k at christmas time, wtf......
    if you don't have reciepts get them any way possible. if you can't show proof of your ventures you are screwed. they will not negotiate because they plug all the crap into a computer and it tells them what you are going to owe. what ever reciepts you may have they will deduck it from what you owe and then the left over non provable write offs are your responsibility. ouch.
    owing over 10k though you have more options in pay back and what you can afford and the irs will take money off just to get some money back.
    i know this doesn't help but good luck and get your receipts
    You don't go to Lisa? Only about 3 people at my office DON'T go to her. One person at my office got audited (randomly) and she handle the whole thing. Told the person what receipts she HAD to have and that she would handle the rest. No problem. Over and done with.

  10. #10
    axkiker
    I'm just wondering, how do you lose 2 years of tax forms and stuff?( 2 recent years for that matter.)
    In the process of remodeling it got tossed. The lesson of the day kids dont make that mistake

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