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The IRS and audits

mac

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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.
 

mac

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Thank you Bert, that is exactly what I was hoping to find.
 

chadrpalmer

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Hmmm....i was glancing at the report, page 25 has a chart that says number of ounces per gallon equals 64?
 

bert79

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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
 
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