How Would Your Dealership Hold Up in an IRS Audit?
What to do in case of an IRS audit
Key items in the Automotive Dealership audit guide
IRS Audit Balance Sheet
Tax Planning for Automotive Dealerships
Dealership Audit Compensation Issues
Miscellaneous Audit Techniques
Non-Qualified Deferred Audits
Automotive Dealership News
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How Would Your Dealership Hold Up in an IRS Audit?
Charles Diegel, CPA
Tom Earley, CPA, MST
Learning Objectives
- Understand the key items of interest in the audit guide
- Understand IRS audit techniques
for specific areas
- What to do in case of an IRS audit
- Tax Planning Ideas
What’s the Big Deal?
Tax Gap = $300 Billion per year ! in 2001
Other Reasons to be Concerned…
- According to the IRS, since 2001..
- enforcement activities recovered $43 billion of the tax gap in 2004 compared to $33 billion in 2001
- Audits of high-income taxpayers ($100,000+) topped 195,000 in 2004 – double the amount in 2001
- Total audits topped 1,000,000 in 2004 – 37% increase from 2001
New Guidance Issued for Dealerships
- New Vehicle Dealership Audit Technique Guide Issued on CD-Rom in January 2005
- Helps isolate areas of focus
- Allows for understanding of IRS position
- Indirectly identifies tax planning opportunities
IRS Audit Guide Table of Contents
Next Page >
Contact
Charles Diegel, CPA
215-881-8882
E-mail
Tom Earley, CPA, MST
215-881-8883
E-mail
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