19 Oct IRS Audit Technique Guide for Entertainers
IRS Audit Technique Guide for Entertainers is for my many clients in the entertainment industry, not just the entertainers’ but also the people who are paid to support entertainment. I appreciate you all. You are applauded on and off the stage.
Workers in the entertainment industry who invest their limited time learning about how income tax obligations impact their business decisions are a rare breed. Over the years I’ve come to know some amazing ‘rare breed’ people hailing from all over the planet.
They tend to stand the test of time. For those of you who fit that category, including part timers, an Entertainment Audit Technique Guide was put out by the IRS and is worth a few minutes of time reviewing. Pay particular attention to:
- tax examination techniques
- unique industry issues
- common business practices
The purpose of this Entertainment Audit Technique Guide (ATG) is for an IRS Revenue Agent to be:
- Provided an overview of the activities encountered in examinations of individuals in the entertainment industry.
- Familiarized with issues and terminology pertinent to individuals in the entertainment industry.
This guide is intended to help reduce the time an IRS Revenue Agent needs to scrutinize taxpayers in the entertainment industry. IT is basically ‘their playbook’ if you will.
Bottom line – the most astute agents look well beyond a ‘job title’ and tend to drill down into your actual duties and responsibilities. They are also looking for the cash.
For more on IRS Audit Technique Guide for Entertainers contact me today.