|
#1
02-19-2004, 04:10 PM
| |||
| |||
 Re: Question about audit. - quote - > I filed my 2002 tax with a schedule C. With my standard
You signed the return, yet you cannot sleep at night? Go to> deduction I was owing $4000.I did some work for a company > and got 1099. My tax preparer added lot of expenses that I > was not even comfortable with and finally showed that I owe > $900 with sch. C. Since that day I am worried I may be > audited. I did buy some computers and books etc but have no > receipts at all. > I did however showed ALL my income including the interest > from bank. > Coming to the point, I want to know in case I am audited > what happens. Lets say I don't have any receipts at all. > What kind of fine am I looking at. Should I worry about jail > time? My tax preparer told me that at the worst it could be > that IRS may reject deductions and I may have to pay the > amount. Thats it. > Is that true? > And how long does it take IRS to audit for lets say year 2002 ? a reputable preparer, have them amend the return and get some sleep. Helen, EA in PA Member of The Tax Gang Director, National Assoication of Enrolled Agents Immediate Past President, PA Society of Enrolled Agents << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
|
02-19-2004, 03:32 PM
| |||
| |||
| Re: Question about audit. Humber Consumer wrote: - quote - > I filed my 2002 tax with a schedule C. With my standard
Almost. in addition to "the amount" (tax I guess) there> deduction I was owing $4000.I did some work for a company > and got 1099. My tax preparer added lot of expenses that I > was not even comfortable with and finally showed that I owe > $900 with sch. C. Since that day I am worried I may be > audited. I did buy some computers and books etc but have no > receipts at all. > I did however showed ALL my income including the interest > from bank. > Coming to the point, I want to know in case I am audited > what happens. Lets say I don't have any receipts at all. > What kind of fine am I looking at. Should I worry about jail > time? My tax preparer told me that at the worst it could be > that IRS may reject deductions and I may have to pay the > amount. Thats it. > Is that true? could be interest and penalties. - quote - > And how long does it take IRS to audit for lets say year 2002 ?
Figure three years from Apr 15 2003, and you'll probably besafe. Now certainly the preparer asked you if you had these expenses and if you had receipts, eh? Cheer$, Harlan Lunsford, EA n LA << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
|
#-1
02-18-2004, 05:29 PM
| |||
| |||
| Question about audit. I filed my 2002 tax with a schedule C. With my standard deduction I was owing $4000.I did some work for a company and got 1099. My tax preparer added lot of expenses that I was not even comfortable with and finally showed that I owe $900 with sch. C. Since that day I am worried I may be audited. I did buy some computers and books etc but have no receipts at all. I did however showed ALL my income including the interest from bank. Coming to the point, I want to know in case I am audited what happens. Lets say I don't have any receipts at all. What kind of fine am I looking at. Should I worry about jail time? My tax preparer told me that at the worst it could be that IRS may reject deductions and I may have to pay the amount. Thats it. Is that true? And how long does it take IRS to audit for lets say year 2002 ? << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| audit, question |
Similar Threads | ||||
| Thread | Forum | Replies | Last Post | |
| NYS Tax Audit dilemmas SongBird: Hi, I have a lot of NYS tax problems. NYS sent me a claim that I did not pay my 2001 State taxes, but I did. I still have the W4 claims but I... | Taxes | 2 | 05-27-2004 04:25 AM | |
| NYS Tax audit and problems SongBird: Hi, I have a lot of NYS tax problems. NYS sent me a claim that I did not pay my 2001 State taxes, but I did. I still have the W4 claims but I... | Taxes | 1 | 01-27-2004 09:33 PM | |
| tax audit Steve B.: The IRS believes I owe more taxes than stated on a previous personal tax return. I took out a loan of $17,800 from one of my retirement plans. I... | Taxes | 6 | 10-30-2003 03:40 PM | |
| Re: The NRP Audit Lottery found us Dick Adams: "Phoebe Roberts, EA" wrote: > One of our clients got the "call to find out what we want" > letter, which means they want *everything*. Right... | Taxes | 7 | 07-31-2003 09:50 PM | |
| Re: The NRP Audit Lottery found us Harlan Lunsford: Phoebe Roberts, EA wrote: > One of our clients got the "call to find out what we want" > letter, which means they want *everything*. Right down... | Taxes | 3 | 07-14-2003 08:40 AM | |
| Thread Tools | |
| Display Modes | |
| |
Linear Mode
