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 - Old Time Threshing - by Anthony West. A lovely harvest evening late September 1947, I was a school boy, like all school boys I loved harvest time. The golden corn ripens well and early, the stoking, stacking,.... the drawing in with the tractors and trailers and a few buck rakes thrown in, and possibly a heavy horse. It would be a great day for the collies and the terrier dogs, rats and mice would be at the bottom of the stacks so the dogs, would have a busy time hunting and killing, all the corn was gathered and ricked in what we c
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