Getting Audited a Hassle. Ask IRS

Filed in Tax, Savings by on July 9, 2010

Getting audited is a hassle! Just ask IRS.

The GAO inspected IRS financial statements for the 2009 fiscal year, with the exacting thoroughness of an IRS auditor. It found a few BILLION-dollar errors. Getting audited is a hassle.

IRS made a variety of accounting errors that “could adversely affect the reliability of its financial statements” and result in “duplicate or erroneous refunds.” Among the mistakes was a “failure to record receipt of a taxpayer’s $3 million payment” and an $8 billion discrepancy between two accounting systems tracking how much money taxpayers owe. The audit also found a $5.1 billion “unexplained variance” between the total amount the agency took in last year and the amount detailed tax files said it took in. Getting audited is a hassle.

What’s a few billion here or there, right?

You will find similar lapses in virtually any close examination of a huge bureaucracy, but it is still good to know that the IRS had to go through it. Now it can empathize with the American taxpayer. Getting audited is a hassle.…/ynews_bs2966_2

Tags: ,

About the Author ()

Fastest, easiest, accurate, low-cost QuickBooks! Intuit - QuickBooks CEO, "You're fantastic Mike! Absolutely fantastic!" Tax fighting CPA.

Comments are closed.

Skip to toolbar