IRS Examination vs Auditing

saden1 · 01-12-2009, 11:36 PM

I'm being "examined" by the IRS. Apparently stocks I bought and sold have a cost basis of zero in their eyes. Anyone know what the difference between an examination and an auditing? Is it just semantics?

FRPLG · 01-12-2009, 11:59 PM

examination = audit. Sounds like W is sticking it to you before he's out of office. j/k good luck with it.

firstdown · 01-13-2009, 10:22 AM

MAybe it means that they are reviewing your return closer to see if your numbers add up v/s an audit where you sit down with someone to review your return. I'm still waiting for my 07 tax refund and my 07 stimulas check.

FRPLG · 01-13-2009, 12:30 PM

Quote:

Originally Posted by firstdown

MAybe it means that they are reviewing your return closer to see if your numbers add up v/s an audit where you sit down with someone to review your return. I'm still waiting for my 07 tax refund and my 07 stimulas check.

Nope. An examination is the same as an audit.

You should have received both of those unless the IRS has notified you of some problem. It is way past time.

Schneed10 · 01-13-2009, 02:40 PM

What FRPLG said. Audit and Examination are synonymous. And yeah Firstdown, I'd be calling the IRS to find out what the hell happened to your money.

dmek25 · 01-13-2009, 03:17 PM

good luck saden. hope all is on the up and up

saden1 · 01-13-2009, 04:15 PM

Thanks guys, I should have it all sorted out on by weekend.

Oh and I'm always on the up and up...I'm not crazy enough to mess with an organized crime syndicate.

mredskins · 01-13-2009, 05:30 PM

Quote:

Originally Posted by saden1

Thanks guys, I should have it all sorted out on by weekend.

Oh and I'm always on the up and up...I'm not crazy enough to mess with an organized crime syndicate.

Nice cover if they research your posting history. Very well played.

firstdown · 01-13-2009, 05:30 PM

Quote:

Originally Posted by Schneed10

What FRPLG said. Audit and Examination are synonymous. And yeah Firstdown, I'd be calling the IRS to find out what the hell happened to your money.

I filed my taxes on the last day of the extension that we filed so it has not been that long but its seem that way as its one year I actually get money back.

FRPLG · 01-13-2009, 11:44 PM

Ah...didn't mention an extension. You're return probably gets a good look if you've filed an extension and they end up owing you money.

firstdown · 01-14-2009, 10:34 AM

Quote:

Originally Posted by FRPLG

Ah...didn't mention an extension. You're return probably gets a good look if you've filed an extension and they end up owing you money.

Well I have never had an audit in the past 14 years sense I have been in business. My Taxes stay pretty cosistent from one year to the next so they never really throw up any red flags. I file an extension every year as he has to complete my corp. taxes before they can even start on my personal taxes. Not sure if its true or not but my CPA says that the IRS has to do so many audits and by filing an extension the chances become less likley to get audited as they have allready hit their numbers. That could also be a bunch of BS but so far it seems to work.

01-12-2009, 11:36 PM	#1
saden1 MVP Join Date: Feb 2004 Location: Seattle Age: 45 Posts: 10,069	IRS Examination vs Auditing I'm being "examined" by the IRS. Apparently stocks I bought and sold have a cost basis of zero in their eyes. Anyone know what the difference between an examination and an auditing? Is it just semantics? __________________ "The Redskins have always suffered from chronic organizational deformities under Snyder." -Jenkins

01-12-2009, 11:59 PM	#2
FRPLG MVP Join Date: May 2004 Age: 46 Posts: 10,164	Re: IRS Examination vs Auditing examination = audit. Sounds like W is sticking it to you before he's out of office. j/k good luck with it.

01-13-2009, 10:22 AM	#3
firstdown Living Legend Join Date: Oct 2004 Location: chesapeake, va Age: 60 Posts: 15,817	Re: IRS Examination vs Auditing MAybe it means that they are reviewing your return closer to see if your numbers add up v/s an audit where you sit down with someone to review your return. I'm still waiting for my 07 tax refund and my 07 stimulas check.

01-13-2009, 02:40 PM	#5
Schneed10 A Dude Join Date: Feb 2005 Location: Newtown Square, PA Age: 45 Posts: 12,421	Re: IRS Examination vs Auditing What FRPLG said. Audit and Examination are synonymous. And yeah Firstdown, I'd be calling the IRS to find out what the hell happened to your money. __________________ God made certain people to play football. He was one of them.

01-13-2009, 03:17 PM	#6
dmek25 MVP Join Date: Oct 2005 Location: lancaster,pa Age: 63 Posts: 10,672	Re: IRS Examination vs Auditing good luck saden. hope all is on the up and up __________________ "It's better to be quiet and thought a fool than to open ones mouth and remove all doubt." courtesy of 53fan

01-13-2009, 04:15 PM	#7
saden1 MVP Join Date: Feb 2004 Location: Seattle Age: 45 Posts: 10,069	Re: IRS Examination vs Auditing Thanks guys, I should have it all sorted out on by weekend. Oh and I'm always on the up and up...I'm not crazy enough to mess with an organized crime syndicate. __________________ "The Redskins have always suffered from chronic organizational deformities under Snyder." -Jenkins

01-13-2009, 11:44 PM	#10
FRPLG MVP Join Date: May 2004 Age: 46 Posts: 10,164	Re: IRS Examination vs Auditing Ah...didn't mention an extension. You're return probably gets a good look if you've filed an extension and they end up owing you money.

IRS Examination vs Auditing

Parking Lot