Comments on: Tax Help Q+A

By: queen of comps

queen of comps — Fri, 03 Mar 2023 01:32:26 +0000

Thank you. I am always happy to hear when something I write helps someone. Only bad thing, that keeps me from retiring!!! 🙂

By: Correna Stidham

Correna Stidham — Sat, 25 Feb 2023 21:20:17 +0000

I did just that – after I read your book – I gave it to my tax preparer and he was absolutely fascinated by it! The tax service that he used (he’s now retired) for difficult/unusual tax situations had NO clue how to help him with my particular tax situation regarding gambling – so he used your book and several articles I had saved regarding tax court rulings form the past. Thanks for all of your help – it has been invaluable!

By: Kevin Lewis

Kevin Lewis — Fri, 24 Feb 2023 23:21:53 +0000

Don’t expect the process to be fair or rational, and don’t expect that dotting all your i’s and crossing all your t’s will keep you from being bothered/audited/dragged away screaming. The IRS uses various metrics to determine who gets scrutinized, and while those change from year to year, the one consistent factor is the amount of overall income/gambling income you report. This only makes sense, since the IRS is grossly understaffed and they don’t want to waste time fishing for minnows.
So I’ll repeat my “bad” advice: keep records. Lots and lots and lots of records. And should you ever get audited, bring ALL of them…in a wheelbarrow, if necessary. Your best defense is to make yourself not worth the trouble to pursue. (And if you’re lucky, the assumption will be made that you probably did everything at least sort of correctly.)