Real Estate Agent v. IRS
Apr 18, 2014OUTCOME: Reduced proposed tax liability from $31,000 to $7,000
A Real Estate Agent was audited by the IRS for two tax years. The Auditor initially proposed assessing an additional $31,000 in personal income tax, interest and penalties. After reviewing the prev ... iously filed return, AB Tax Law determined that the unpaid federal income tax was significantly less than the IRS position. An agreement was reached with the auditor under which the taxpayer was assessed additional taxes, penalties and interest of less than $7000 -- a reduction of 78%.
