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  | Tax Audit - Gas Retailers Industry Edition Ebook | |
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 | |  | | E-book Category: Business, Law
E-book Title: Tax Audit - Gas Retailers Industry Edition
Book Description: You can have the information you need to save yourself from an embarrassing IRS Audit!
Instantly transfer
the actual Instructions developed by the IRS to train its auditors in the Gas Retail Industry
Why Makes The Internal Revenue Service Target Gas Stations For Tax Audits?
The service station has historically been the type of business wherever
most of the financial gain
and galore of the expenses are paid in cash.
As such, the normal audit trail is more difficult to follow than another businesses with tighter internal controls. Sometimes no records are maintained or they are unbroken
periodically
and in a broken manner. For these situations, the Internal Revenue Service has developed several alternative approaches to computing financial gain
for a service station under audit.
In a state that has sales tax you can activity through your Federal and State contacts to get gross sales information. For example, the American state State Board Of Equalisation provides information for American state service stations.
Uncle Sam's Tax Audit Assistant For Retail Gas Industry -
60 PAGES chock-full of ALL of the information you need to survive an audit from the IRS in an easy to understand format!
In the time it takes to see only 60 pages, you wish be prepared once
the Internal Revenue Service comes knock on your door!
Take a sneak peek into this priceless Manual...
From Chapter 3-
Internal Revenue Service Auditors Wish Decidedly Review The Following To Determine If You Have Another Potential Sources Of Income-
Do you have / offer any of these services?
- Licensing For State Inspections
Internal Revenue Service Audit Agents cognize to look for the following:
- Location and Sales - A nice location site wish have a high volume of sales.
- Sites that have a brew and wine license wish sell more much merchandise than without the license
- Are cars for sale at the location?
- Motor Vehicle Records - determine local or state procedures for securing this information
- Be alert to any another service station(s) closely-held in whole or in part as an individual, partner, and/or shareholder.
- Real Estate Records - for real estate sales and purchases. Contact collection employees for the better source of this information.
- Check the current merchandising prices and note variances between prices of fuel at the taxpayer's station and another stations in the area.
- How galore pumps? What are the grades of product being oversubscribed and are there any another types of products such as diesel fuel, propane, or blending products?
- Have internal controls been addressed? Are the internal controls presently
in place the same as during the year under audit?
- TECS - (Treasury Social control
Communication System) money declared with Customs once
taken in or out of the country by selection
Would-be you like to have INSTANT and UNLIMITED ACCESS to this astounding manual?
Transfer
your copy now and qualify for FREE Bonuses!
TABLE OF CONTENTS
Chaper 1
Background Information 1-1
Flow of Products 1-1
Fuel Suppliers 1-2
Major Oil Companies 1-2
Independent Oil Companies 1-2
Minor (Unbranded)
Stations 1-3
Another Products
(Non-Gasoline Suppliers) 1-3
Food Wholesalers 1-3
Service Parts Suppliers 1-3
Marketing Structures For Outlets 1-4
Service Stations 1-4
Pumpers 1-4
Convenience Marts 1-4
Another Small Fuel Dispenser 1-4
Surveys 1-5
Bureau of Labor Statistics 1-5
American Automobile Association 1-5
U.S. Department of Energy 1-5
Lundberg Survey 1-5
U.S. Department of Commerce 1-5
Chapter 2
Pre-Audit Techniques 2-1
Gross Receipts/Unreported Financial gain
2-1
Identify Sources of Information 2-1
Chapter 3
Audit Techniques 3-1
The 1st Appointment 3-1
Site Visitations 3-1
Summons the Oil Institution 3-1
Potential Sources of Additional Financial gain
3-1
Another Gross Financial gain
Issues 3-3
Car Body Repairs 3-3
Sale of Business Assets or Franchise 3-4
Inventory 3-4
Missing Stations 3-4
Unreported Financial gain
3-5
Mechanic/Service Bays 3-5
Useful Industry Ratios for Service Stations 3-6
Mark-Ups 3-6
Fuel Sales 3-7
Calculate Purchases and Sales and
Compare to Tax Return 3-5
Another Issues 3-9
Rent/Other Expenses 3-9
Franchise Fees and Covenants
Not to Vie 3-9
Payment Account 3-10
Rebates 3-10
Another Taxes 3-10
Netting Taxes 3-11
Bleached Fuel 3-11
Blending 3-11
Imaging Compensation
3-13
Incentive Agreements 3-16
Accommodations 3-16
Shrinkage, Leakage, Theft, and
Personal Use 3-16
Tank Replacements 3-16
Depreciation Period for Service Station
Canopies and Service Station Buildings 3-17
Environmental Clean-Up Issue 3-23
Chapter 4
Another Considerations 4-1
Inadequate Records Notice 4-1
Fraud 4-1
Non-Filer 4-2
Preparer and Preparer Penalties 4-2
Collection 4-3
Graft Awareness 4-3
Bankruptcy 4-4
Employment Tax Issues 4-4
Division Counsel and Appeals 4-4
Excise Tax Specialists 4-4
Gloss G-1
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