Posted by kyhayman on August 06, 2009 at 19:45:11 from (75.105.0.38):
In Reply to: O/T CASH posted by farmer101IL on August 06, 2009 at 17:08:11:
Im sure glad I kept good records and reports when the IRS came to see me two years ago. They wanted to perform a 'research audit' as I was one of 50,000 Americans chosen for this honor. Every transaction, every dollar had to be accounted for. If I spent less than the national average on anything from food, to clothes, to pencils my kid used in school.
While in criminal court you have the assumption of innocent until proven guilty in a tax audit you have to defend every deduction or deviation from the norm. It took a year, cost me right at $10,000 for bank fees, accountants, etc for them to determine when its all said, done, and refigured that I didnt owe anything.
Any cash I'd used had to be accounted for. Period. If I failed to religiously use the bank before, I dont now. If I get paid it, it gets deposited, if I pay for it, it gets paid with a check or a business credit card.
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