GoFuckYourself.com - Adult Webmaster Forum - View Single Post - sallyrand and his upcoming scheme to avoid sales taxes.

epitome · 06-30-2011, 11:19 PM

Choker, I know someone going through an audit right now similar to what L-Pink described. It's not for sales/use, but rather the IRS looking for any morsel of unclaimed income or improper/incorrect deductions. Line by line, check by check, credit card charge by credit card charge.

He started getting extra special attention back when he sold a commercial building for a few million. He only had something like a 15% share and they were doing a 1031 exchange, so taxes were minimal or even non-existent. The IRS wanted to peg him for the for 100% of proceeds and didn't want to recognize the 1031. It was a big mess and he sued the IRS and won.

You never want to have to sue the IRS because you'll surely be on their radar going forward. Of course they'll never admit to that.

06-30-2011, 11:19 PM
epitome So Fucking Lame Industry Role: Join Date: Jun 2009 Location: St. Petersburg, FL Posts: 12,156	Choker, I know someone going through an audit right now similar to what L-Pink described. It's not for sales/use, but rather the IRS looking for any morsel of unclaimed income or improper/incorrect deductions. Line by line, check by check, credit card charge by credit card charge. He started getting extra special attention back when he sold a commercial building for a few million. He only had something like a 15% share and they were doing a 1031 exchange, so taxes were minimal or even non-existent. The IRS wanted to peg him for the for 100% of proceeds and didn't want to recognize the 1031. It was a big mess and he sued the IRS and won. You never want to have to sue the IRS because you'll surely be on their radar going forward. Of course they'll never admit to that.