The IRS and Big Data Gone Bad
Bookkeeping data is notoriously unreliable. So why is the IRS relying on it?
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The 10-Minute Bookkeeping Test
By Frank Stitely
SK CPAs
“Please give me a copy of your 1099-MISC forms.”
The IRS agent was a 25-year-old woman, with only a couple of years of experience dealing with my client.
My client was the “How-dare-you-question-me?-I’m-a-taxpayin’,-God fearin’-American” type of client – one of those guys who think the Marlboro Man is a wimp.
But he had a tax problem. He was being audited and he had thrown out all of his paper records when he moved his office.
Missing 1099-MISC
He didn’t have copies of his 1099-MISC forms. So he had his bookkeeper reprint them from QuickBooks. I gave them to the IRS agent.
“Mr. Stitely, these 1099 forms don’t match what we have in our records.” READ MORE →