Mike is right. Does not happen very often to me. When it does I take the check to the bank cash it for cash and forget about it. The IRS does not look at single items anymore. The alogorithm just sorts for anomalies now. If you give the CPA the right info he will not stick his neck out the thickness of a sheet of paper. The exception would be if you sold a $50,000 tractor and you depreciated it for two years and it disappeared 2 years later. There is a very small chance it would get picked up. My mother was a CPA and did our taxes until she died. We both went to the annual tax update at Cornell University every year. I do my own taxes and those for a few neighbor BTOs. In NY we pay enough user fees, real estate. sales taxes, that I feel there is no need to pay to much income tax. Been using our sysem for forty years and it has paid dividends. Not going pay a CPAs country club dues. ps If the one in a million chance it happened to you, you would get a letter. It would say the amount of tax you owe and a 25 percent penalty. The IRS wants you working not in jail.
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Today's Featured Article - Women and Tractors - Tractor Engine Repair - by Teri Burkholder. One of the great things about working on a tractor engine with your other half is that you know what he is thinking of at all times and can anticipate his every move and his next thought of what he will do. With Ben, anyway, I can tell! He'll be busy working and I’m handing him tools and he says, "give me that..." and I’ve already got it in his hand or "hand me that....."and I’ve got the portable light right where he needed it placed to see. "Run in the house and get me a...."as I open th
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