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

Oct 16, 2024
9:47:53am

johnnybyu All-American

extremely time consuming and costly for additional CPA hours. Its a joke the IRS doesn't have to reimburse legal and accounting fees. Getting audited will cost you one way or another if you don't have a simple return.

This message has been modified

Originally posted on Oct 16, 2024 at 9:47:53am

Message modified by johnnybyu on Oct 16, 2024 at 9:49:47am

Message modified by johnnybyu on Oct 16, 2024 at 9:51:18am

Message modified by johnnybyu on Oct 16, 2024 at 10:04:34am

Message modified by johnnybyu on Oct 16, 2024 at 10:05:22am

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johnnybyu

Bio page: johnnybyu
Joined: Jun 6, 2002
Last login: Oct 16, 2024
Total posts: 15,571 (1 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

BIG XII Coug

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

I always but what is offered as it

Archaea

11:45am

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.

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