Fighting an audit will likely cost tens of thousands in attorney fees and CPA fees and even that is no guarantee

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Oct 16, 2024
9:24:33am

BIG XII Coug Unemployed BIG XII advisor

Fighting an audit will likely cost tens of thousands in attorney fees and CPA fees and even that is no guarantee

to avoid penalties and additional fees b/c the IRS disagrees and you're continuing to appeal. They also have the ability to freeze and levy accounts.

There's wisdom in not claiming every possible deduction and expense if you don't want to deal with the hassle of an audit.

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BIG XII Coug

Previous username: njcoug
Bio page: BIG XII Coug
Joined: Oct 13, 2007
Last login: Oct 16, 2024
Total posts: 47,201 (19,160 FO)

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Messages

Author

Time

If your CPA says the goal is to not get audited, you need to fire your CPA

Skeptical Optimist Intervention Needed

9:14am

Tax evasion is illegal. Tax avoidance should be pushed to its furthest limit.

ChiCityCoug

9:15am

Non-sequitur. OPs post says three different times that he's talking about legal

Tricky

9:20am

I’m agreeing with him. And reiterating that CPAs should do all they can to

ChiCityCoug

9:21am

Ha. I misread "pushed" as "punished" and missed the distinction you were making

Tricky

9:23am

i did too

Level43

9:40am

Guess I should have said “stretched” lol

ChiCityCoug

9:43am

Not a non-sequitur. He's echoing OP's point in a more succinct way.

ebv

9:23am

On balance an audit is incredibly frustrating and time consuming.(For me it was)

BYUfan92

9:20am

CPA translation: "I don't want to spend the time an audit would require"

Tare

9:22am

Or "I'd rather you pay more taxes so I don't have to spend the time an audit would require"

Skeptical Optimist

9:23am

I disagree. I don’t want the IRS looking into the gray areas on my clients’

BYU-Ite

9:36am

I don't follow. My CPA charged me big time for my audit. Why wouldn't they want the work? It's generally during a time

HarlemCoug

9:37am

This is true.

BYU-Ite

9:38am

Fighting an audit will likely cost tens of thousands in attorney fees and CPA fees and even that is no guarantee

9:24am

Exactly. There are some things that raise more flags than others. And if they

byubyu

9:33am

THIS

johnnybyu

9:51am

My experience taught me just to accept

BYU71

9:44am

Yep. It's a sad reality.

dut99002

10:56am

Every taxpayer should be allowed to set his/her comfort level.

Archaea

9:34am

This is the most correct statement

sparky

10:20am

Paying your CPA for ten more billable hours just to spite the IRS out of one

joelvandyne

9:39am

Taxes are your single largest expense throughout your lifetime

Skeptical Optimist

9:49am

In total, sure. But not the marginal deductions you're asking for your CPA to

joelvandyne

9:53am

Audits can be very costly. Been through 2, both paid no extra tax but they were

johnnybyu

9:47am

I wish there was some type of reimbursement, but if it comes from the

ChiCityCoug

9:56am

Don’t you buy the audit insurance from your CPA?

Archaea

10:37am

Not every CPA offers it.

dut99002

10:57am

Not sure it’s quite that black and white, but we agree on what the main goal is.

Japan Coug

9:49am

There are plenty of undertrained, less-than-competent IRS agents.

dut99002

10:53am

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