A while back there was a discussion about how the IRS determines the revenue that a typical wash generates. I believe it was based on water consumption. Does anyone have any info on this. Looking to buy a wash and the numbers the owner is providing might as well be the numbers I pick for the state Lotto.
Car Wash Forum
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The IRS and audits
- Thread starter mac
- Start date
This helped us a lot when we were trying to check the numbers that we were given by the previous owner. It is a guide for IRS agents on how to evaluate a car wash.
chadrpalmer
Member
Hmmm....i was glancing at the report, page 25 has a chart that says number of ounces per gallon equals 64?
Wow you’re right chad it does seem like a glaring mistake in that example. Gosh I hope they dont make that kind of mistake when actually auditing. Wow. That number had a major effect on what they considered underreported by the taxpayer. Good catch
