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Message Subject Waters: Obama CAMPAIGN Database Has 'Information About Everything on Every Individual’ -
Poster Handle Bluebird
Post Content
never
Three months after donating $2500 to the Ron Paul Campaign for President in 2012, I received a phone call, then subsequent letter from the Cincinnati IRS Office ordering a seven year audit of my Tax Returns...

In the phone call she began asking veiled questions about "donations", but I refused to talk to them and the next day I gave a power of attorney to my Accountant and Tax Attorney to deal with them...

Didn't owe a dime to the government, but it cost me $12,000 in Accounting and Legal fee's to finish the matter.

I now have no doubt this was politically motivated and I've turned this evidence over to my congressman (which is probably the last I will ever hear of this).

Since I refused to talk to them on the phone that day I may never know for sure, but the only excuse they could give for my audit was that it was a "Random" audit, but my tax attorney and my accountant had never heard of a full seven year audit being "Random" before...

So yeah, Obama keeps a political enemies list with dossiers, of this I have no doubt...
 Quoting: Saddletramp


I've never heard of a 7 YEAR audit either. In fact my accountant told me I didn't have to keep records more than 5 years when I had my own small business and even farming record.

Maybe you should consider joining the class-action lawsuit. Or one of them as I suspect before this is over there are going to be many many of those as well their should be.

Sorry this happened to you! I'd like to just have a reasonable headcount on how many "targets" there really are both tax-wise and blackmail also.
 Quoting: Bluebird


Oh yeah, check the law, they can come after you for seven years...though usually they only do it if they find cause within one of your tax returns...

I'd never heard of a random seven year audit either...

USUALLY "Random" audits are just one year of your tax returns, and usually your last return, that flag on their system for some reason...
 Quoting: Saddletramp



Apparently, you are correct. This is from their website:


How long should the records related to a business or other long-term asset be kept?
In the case of an asset, records related to the asset should generally be kept for as long as you have the asset plus three years. If the asset was exchanged, the basis for the new asset may include the exchanged asset so the records for both assets will need to be retained until the new asset is disposed plus three years from the file date of the tax return for the year of disposition.



How long should payroll records be kept?
In general, payroll records should be kept for six years with a review of the file to see if any items relating to current employees should be retained with current records.



----

So I guess my accountant was being rather lax or maybe it's because he kept a copy of all pertinent data. Now that I have no business I am only keeping for 3 years.
 
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