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Auditing/Questions

SubjectDate AskedExpert
Cash From Trust3/19/2017Richard S
  Q: Good Morning, Richard! I became a beneficiary of a trust 5 years ago when my dear grandmother passed ...
  A: Lisa, You are probably over thinking this. Unless you make lots (20-100) transactions over $10k you ...
Need some help6/9/2016Richard S
  Q: I'm hoping you can maybe shine some light on my issue, as for sure you are much more knowledgeable ...
  A: Sorry this took so long, on vacation. I'm not an expert in state taxes, but if you make a profit ...
How Form ss-8 works with tax returns5/9/2016Richard S
  Q: I submitted a Form SS-8 to the IRS because I believe I may have been misclassified as an Independent ...
  A: Peg, the IRS would only "misclassify" you if they received a 1099 from your employer and not a W2. ...
Bad advice from an accountant...3/25/2015Richard S
  Q: First of all I'm Canadian. I'm just looking for your gut feeling on the situation described below: ...
  A: Looks like her options are few without knowing why the CRA disallowed her claim. In the end, because ...
mistake on w2 entry for box 122/28/2015Richard S
  Q: When filing on line with turbo tax, I transposed the amount of my roth 401k contributions and didn't ...
  A: Ken, I doubt the IRS will contact you. They might if you have a large income - six figures plus or ...
conflict with the IRS8/23/2013Richard S
  Q: in the late Spring, I received a letter from the IRS asking me to pay a penalty for underpayment of ...
  A: You didn't say how much the difference is in the two calculations. I would call 800 829-7650 at a ...
Existence of Business to IRS5/9/2013Richard S
  Q: I fell behind with my Annual Reports for my LLC. On May 7th, I caught up, paid my dues and was ...
  A: Here is my opinion - I would file as you normally do. I doubt wether you would be audited unless ...
Schedule C4/6/2013Richard S
  Q: Good Evening, My husband was a sole proprietor in his lawncare business. in 2010 his only income ...
  A: I doubt that you will hear from the IRS. There is always a small chance your return could get some ...
Best practices for accounts audits.3/20/2013Richard S
  Q: http://www.accountingweb.co.uk/topic/business/how-long-and-how-much-do-audit/473442 ...
  A: Any presentation you share with a customer should be your own. You will not win or keep customer ...
Forensic Accounting1/6/2013Richard S
  Q: I need to meet with a CPA or CFE with experience in financial Forensics. Are you in the NYC area.
  A: No, I live in the south. And, financial forensics is a bit out of my expertise. The big accounting ...
Transferring from UGMA to 529 Plan12/14/2012Richard S
  Q: My daughter received a notice from the IRS that she owes back taxes on what they think was a ...
  A: Because the check was cashed the IRS has no idea where the money went. I would make copies of ...
Insurance Audit11/9/2012Richard S
  Q: How am I supposed to conduct system audit of n inurance company hen the IT Adm i far too reluctant ...
  A: No easy answer. My guess is that you have two options. You will have to go back to the people that ...
sales tax audit5/15/2012Richard S
  Q: i have been selected for a sales tax audit, i am in Texas, this is a wt loss and fitness business, i ...
  A: Sorry you are out of my expertise. All my experience is with Federal taxes and their collection. I ...
IRS sent me check in error4/17/2012Richard S
  Q: I received a refund check from the IRS/U.S. Treasury for almost $400. They said in a letter that I ...
  A: Unfortunately the IRS makes a few refund mistakes every year. Sometimes they are for thousands, ...
Filed, applied, and acepted 1099 but why no refund?3/19/2012Richard S
  Q: My 2010 refund was withheld and adjusted. They claim that the information wasnt compatible with the ...
  A: I'm not sure I understand your question. Are you saying that your employer paid you with a 1099? And ...
IT Auditing1/15/2012Richard S
  Q: I am a 30 years old male.I have worked in IT for 1.5 years and currently working as a Network ...
  A: Ahmad, Your question is a bit out of my expertise. If it were up to me - with a year and half in my ...
W-9 form request from tenant1/14/2012Richard S
  Q: A tenant of my residential rental property has just requested a W-9 from me. I file this rental ...
  A: Gabe, You are right to feel uncomfortable in giving anyone your social security number. I can't ...
Retirement Account Transfer10/12/2011Richard S
  Q: A few years ago, I transferred from one employer to another, and though both of them do have ...
  A: My suggestion would be to file an amended return for that year and include copies of all your ...
2010 TAXES7/14/2011Richard S
  Q: i have a question about my corporation. I formed the corporation back in December 2008. I did file ...
  A: If there was no activity - no profits, 1099's generated, etc. - then technically you don't owe a ...
Can I audit a business?7/8/2011Richard S
  Q: I was called a "partner" though I believe it may be an affiliate...not sure of the difference. I ...
  A: you are probably asking the wrong person - I'm an expert if you owe the IRS. My experience says that ...
TAX audit - stock sales6/22/2011Richard S
  Q: I got a tax audit for my 2009 tax return. In 2009 I had bought taxes worth 14 thousand and sold for ...
  A: The IRS has no idea if you made money or not on stock transactions - the brokerage sends the IRS ...
claimable deductions6/20/2011Richard S
  Q: Stolp, I was recently employed by as a special events designer of jewelry traveling the West ...
  A: You should be able to claim most expenses on the road. If you were on company business - like ...
Transaction over $100005/21/2011Richard S
  Q: I sold my car last year for $13k and deposited the cashier check as so. Now I just learned from the ...
  A: As far as my experience - I would not take any action unless you got a formal request from the IRS. ...
High School Booster Club4/10/2011Richard S
  Q: I was recently appointed treasurer of our High School Booster Club in NJ. I was expected to deposit ...
  A: Yes, lots of politics. Our local high school had some very difficult days after the person accepting ...
tax payments4/9/2011Richard S
  Q: i had deliquent taxes and they caught up with me last year. I owed about 25,000 I have the balance ...
  A: Sorry I was out for a long weekend. Basically, yes, you can roll your new balance due into the old ...
us tax law1/30/2011Richard S
  Q: I owned an LLC dental practice that I sold in 2006. I was sued by an employee in 2004 and finally ...
  A: Sorry, you are a bit out of my expertise. I would assume you could file an amended 2006 return and ...
tax protection1/26/2011Richard S
  Q: I am finishing up a divorce from a man who was self employed. I was told that we never had any ...
  A: First on your ex's income. Lots of self-employed people show much less taxable income because the ...
Delinquent Employment Taxes and POA1/18/2011Richard S
  Q: I have a question. My father-in-law is 91 with COPD and sleeps about 20 hours a day. My ...
  A: In theory your father-in-law needs to fill out the schedule H if he has paid over $1400 for your ...
creative accounting10/21/2010Richard S
  Q: how would i go about finding a "creative" accountant? not looking to do anything illegal, but to ...
  A: I'm not sure "creative" is the word I would use. Mine would probably be along the lines of looking ...
501c3 orgs9/17/2010Richard S
  Q: Is it possible for the general public to request a 501c3 organizations financial statements? If so, ...
  A: I answered that your question is out of my expertise. However, my experience says that you can ...
fear of owing IRS8/14/2010Richard S
  Q: Closed my psychiatric practice in debt (put money into an unfinished & unused record keeping ...
  A: 1. It doesn't sound like you have received any notices on your 2007 and 2008 returns. Assuming you ...
auditing8/5/2010Richard S
  Q: I just received a bill from the Florida juvenile justice. They said they were doing an audit and ...
  A: While I don't have any knowledge of the Florida laws on collections - I can give you general advice. ...
ICWAI Career7/1/2010Consuelo Herrera, International Accountant and Fraud Examiner
  Q: I am doing my B.Com and ICWAI simultaneously. Just now I have completed my B.Com 2nd year and also ...
  A: Congratulations on your achievements. Having that mix of skills is a great for career advancement. ...
help for the employeR6/22/2010Richard S
  Q: do you know where i can find an accountant and attorney that specializes in working FOR the ...
  A: I would try these: First I would call some other businesses like yours and see who they use. Next I ...
Accept a potential audit client?5/25/2010Richard S
  Q: If a potential audit client has good references, is respected, shows nothing negative on the Dun & ...
  A: This is a little out of my league. I assume you have met the principles - sounds like you have some ...
Audit opinion3/21/2010Don Sadler
  Q: Hope you can assist me on this audit issue, Let's say if you have finished the entire audit process ...
  A: Stephanie, Since my profile is clear about me helping with internal audit questions, I assume you ...
SS-8 Decision3/4/2010Richard S
  Q: I was being paid in a personal check from a home construction company and was told they were ...
  A: Yes, the IRS is very slow. I would write a letter and explain how long you have been waiting and ask ...
auditing2/17/2010Consuelo Herrera, International Accountant and Fraud Examiner
  Q: Who can request an audit? Can i request this on an ex spouse personally or do i have to have it done ...
  A: With respect to your question, my best suggestion is that you hire a forensic accountant to ...
Help11/21/2009Consuelo Herrera, International Accountant and Fraud Examiner
  Q: I want to ask some questions to you related to my study. please help me. 1.Write short note on ...
  A: Sorry but I cannot answer your questions because it would undermine your responsibility as a future ...
CFE Cannot find work in field11/9/2009Consuelo Herrera, International Accountant and Fraud Examiner
  Q: I am a Certified Fraud Examiner and I will be completing the Executive M.S. in Economic Crime ...
  A: I am amazed that with your background you have not yet found a position helping fight financial ...

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Auditing

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Richard S

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Expertise

Questions about the collection of taxes. I spent ten years in Collections and tax return review with the IRS and spoke with over 20,000 people. I worked with people to solve problems with their tax levies, liens, Offer in Compromise, unfiled tax returns, payment/filing options and general questions.

Experience

Over 10 years with the IRS - recently retired. Handled thousands of cases - mostly for regular people that owed anywhere from a few hundred dollars to over $100,000.

Education/Credentials
Masters Degree from Iowa State in Ames.

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