Quote:
Originally Posted by glowlite
For what it's worth, if you triggered an audit once (regardless of outcome) then you can expect more in the future. Your ass has been painted red.
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That's not what I have been told. Once you were audited and passed ok then you less likely to be audited again. I was audited in 2005, haven't heard from them since.
Anyone can get audited but obviously there are triggers that set off red flags and make your odds go up. One is to show a big loss on a company. What very likely triggered mine was the way our corporate structure was set up at the time and the way money moved from one company to another, which caused one of the companies to show a big loss and the other the big profit. Not something I would suggest doing unless you really needed to keep companies separate.