Uncle Sam's Tax Audit Assistant, Farm Hobby Losses With Cattle Operations And Horse Activities Edition: IRC Section 183 You Can Have The Information You Need To Save Yourself From An Embarrassing IRS Audit! Instantly download the actual Manual developed by the IRS to train its auditors in the Farm Hobby Losses With Cattle Operations And Horse Activities Industry! Uncle Sam's Tax Audit Assistant on IRC Section 183 Farm Hobby Losses has been developed to provide guidance to Revenue Agents and Tax Auditors in pursuing the application of IRC Section 183 with respect to horse activities and cattle operations.
Some taxpayers resist this "hobby" terminology and the implications therein. For whatever reason taxpayers have engaged in these activities, albeit for pleasure of a hobby or the tax benefits derived, these activities were not engaged in for the sake of deriving a profit.
The Internal Revenue Service Auditor has been instructed to use this manual during all phases of an examination where the provisions of IRC Section 183 may be applicable. The purpose of this training manual is to:
- Provide examination techniques
- Provide background information about Farm Hobby Losses With Cattle Operations And Horse Activities
- Identify frequent and/or unique issues
- Identify current trends, unique business practices and forms of operation
- Discuss use of applicable law and court cases
- Conduct an examination consistent with other market segment examinations throughout the Internal Revenue Service
