Cash Archives - John R. Dundon II, Enrolled Agent
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Cash Tag

29 May

Posted at 00:00h in Cash, Cash Transaction, Cohan, Tax Court, Tax Deductible Expenses, Tax Guidance & Preparation, Tax Problems & Requests

As I understand the Cohan rule under the IRS' Guidelines For Determining Noncompliance, taxpayers are allowed a deduction for an estimated amount of expenses when it is clear the taxpayer is entitled to a deduction but is unable to establish the exact amount of the deduction. Specifically the IRS...

01 Nov

Posted at 00:00h in Appeals & Audit Resolution, Audit Technique Guide, IRS Audit, IRS Examination, Sole Proprietor

This audit was initiated by the Treasury Inspector General for Tax Administration (TIGTA) to determine whether minimum probes for unreported income during sole proprietor audits are conducted in accordance with IRS policies and procedures.  This audit was conducted as part of the Fiscal Year 2010 Annual...

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