"You Can Survive An Internal Revenue Service Tax Audit Without Being Taken To The Cleaners!" Uncle Sam's Tax Audit Assistant created specifically for the Laundromat Industry was written with the assumption that there is a reasonable indication of unreported income. Hmmm, that's interesting...Why would the Internal Revenue Service write a training manual for their auditors based upon the assumption that you have unreported income?
Perhaps it is based on your answers to the following questions:
- Do your returns include an attendant?
- Do your machines have automatic water level adjustors?
- Do you repair your machines yourself?
- Do you offer wash & fold service?
- Do you offer pay telephones, soap, video games, soda and snack machines?
- Do you have first-hand knowledge of laundromat operations?
- Do you document each flooding incident resulting from a malfunctioning machine?
If you don't understand how the answers to these questions can affect your outcome in an audit situation, you need to educate yourself NOW! The IRS is prepared to issue summons for the following: Water records, bank statements, taxpayer records and taxpayer responses as well as contact with third-party providers.
TABLE OF CONTENTS
- Will Not Cooperate 8
- Which Could Affect the
- What To Do If The Taxpayer
- Water Consumption Analysis 3
- Visiting the Laundromat 6
- Visiting the Laundromat 6
- Taxpayer Statements
- Taxpayer Arguments Concerning
- Prior Litigation 9
- Pre-audit 1
- Initial Interview 1
- Dryer Income 7
- Determining Standards 3
- Data Needed for a Consumption Analysis 3
- Customer Use Percentages and
- Customer Use Percentages 6
- Consumption Analysis 5
- Cash Flow and Books of a Laundromat 2
- Case Development and
- Case Closing Checklist 8
- Calculation of Water Waste and
