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Auditing/2006 taxes

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Expert: Don Sadler - 10/12/2007


Question
Hi Don,
Nothing like waiting until the VERY last minute! Had an extension...due Monday, I have some very minor (under 100$)
dividends that I can't find the paperwork for, if I guess at these amounts and overpay to be on the safe side, will I be ok and not get a fine? I have been fined in the past for minute number errors and I don't want to fined again. Thank you  

Answer
Thanks for the reminder that I need to check my profile to be sure it says TAX is not a specialty.

Not being a tax person, I can only speak from a lay perspective and I know our pain as I, too, have had fines and a seemingly constant battle with the Tax authorities.  

If you pay on time and overpay, I cannot imagine any circumstance in which you could be fined.  Indeed, they (IRS?) will validate your taxes which will show any overpayments and you will receive that in a refund.  

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Don Sadler

Expertise

I can answer regarding Internal Auditing - especially operational audits, audit management, and how to revitalize a dysfunctional audit department. Also give advice to "auditees" on how to deal with auditors.

I DO NOT ANSWER HOMEWORK OR CLASS PROJECT QUESTIONS. For those answers, I suggest you scan previously asked questions and search on your favorite search engine.

I ALSO DO NOT ANSWER TAX QUESTIONS AS THIS IS NOT WITHIN MY EXPERTISE. NOTE: I am not an accounting expert although i will try to help if I can... ask at your own risk.

Experience

I have worked in the public and private business management arena with experience in OMB, Resource Management, Internal Auditing and consulting. I am a former President of the Inland Empire Chapter Institute of Internal Auditors, previously held Director positions in the Orange County Information Systems Audit and Control Association and the Northern Telecom International User's Association. I am a Certified Fraud Examiner and a Certified Information Systems Auditor.

Organizations
Institute of Internal Auditors, Association of Certified Fraud Examiners, and Information Systems Audit and Control Association (ISACA)

Education/Credentials
MBA, CISA, CFE

Founder and Principal of Applied INTEGRITY Management Consulting Group

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