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Old 07-29-2011, 10:42 AM
SwampYankee's Avatar
New England Hick
Join Date: Sep 2006
Location: CT
Posts: 1,501
The Tax Man Cometh. Again. (New IRS M.O.?)

We had a visit from a nice IRS lady a couple years ago. She spent a couple days here, going through files, asking for and getting copies of what she asked for. She didn't find anything out of the ordinary and thanked us for our and our accounting firm's time.

I'm guessing since they didn't find anything, they figured they'd try again with another Fiscal Year. Next Thu and Fri we'll be hosting another fine agent from the IRS. Our accounting firm is exceptionally conservative and by the book (in fact the founding partner served on numerous oversight boards after the Arthur Anderson fiasco), performs an audit every year for us for our bank covenants, so there's not really any concern about getting audited. But it's still a PITA nonetheless.

After discussing it with some other small business owners, the thought is that the IRS is going after what they perceive as easy pickings; namely small businesses, LLP's, LLC's; to get the most bang for their audit bucks. Whether true or not, I guess it's in your best interest to make sure your businesses books are in order!

1980 300TD-China Blue/Blue MBTex-2nd Owner, 107K (Alt Blau) OBK #15
'06 Chevy Tahoe Z71 (for the wife & 4 kids, current mule) '03 Honda Odyssey (son #1's ride, reluctantly) '99 GMC Suburban (255K+ miles, semi-retired mule) 21' SeaRay Seville (summer escape pod)
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