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Friday, June 13, 2014 11:19:57 AM
First - I don't need to know what form I use for interest because it does it for me. That is technology. Understand?
Actually, you do need to know so you know how to enter it on your tax return so you don't get pesky notices two years later
Second - Do you think for a second that the IRS doesn't have anything that it uses to perform an audit? That is technology.
Sure they do. It mostly applies to individual returns and Schedule A, C and E. C Corporations like BBDA (less than $10MM in assets reported) are among the lowest IRS audited returns out there. Audit rate for C Corp returns in 2011 was 1.5%.
2,031,436 were filed in 2010 and 30,661 were audited in 2011. Very easy for a scam to sneak by. 98.5% chance actually.
So you are saying. All of this illegal doing and SOMEHOW the IRS knows nothing about it, the FBI knows nothing about it and neither does the SEC. You submit claims all the time (supposedly) yet it goes unnoticed. BUT YOU. The self proclaimed CPA/auditor sees all the wrong doing. ONLY you.
Time will tell eh? If you are doing nothing wrong then you have nothing to worry about. That's what my mom taught me.
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