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RDG013

03/24/10 8:00 AM

#60736 RE: dent1 #60735

dent, they most likely have filed some sort of extension, knowing they have been losing money and do not owe the IRS.
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private_wealth

03/24/10 9:57 AM

#60756 RE: dent1 #60735

a tax return and audited financial statements are two very different things.

The audited financial statement requires a full accounting of every general ledger entry and reconciliation of it. When filing a tax return it asks for the balance sheet, without verification.

A full audit would take a considerable amount of time, the first time.