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Reply to "Holy Shit IRS Certified Mail"
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[quote=Anonymous]We were once "randomly selected" for an audit that required we provide them with every monthly financial statement (banks, credit cards, investment reports etc) over an 18 month period. They wanted to make sure that every dollar of income was reported. With checking accounts it meant that every dollar that came in had to be accounted for. It was brutal! We ended up having to send them something like 75 pounds of paperwork and tons of pages of justification. Our accounting fees were something like $7500. At the end of the many month process it turned out that all we couldn't explain was about $200 in revenue from a small jewelry business I have. They then wanted us to pay taxes on that. My husband went nuclear given that we had paid something like $300,000 in taxes and they wanted another $60 plus our accounting fees were not deductible. He threatened to go public and sue them for abuse. They decided to close the case. [/quote]
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