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IRS checks

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Byjeepg

L1: IRS checksI am curious as to what would trigger the IRS to check to see if you are in compliance. Do they just randomly check, just as they do with other tax issues, or is there something that will sned up a flag? Also, in your experience, what is the frequency of their exams pertaining to 72t?

Thank you in advance for your assistance.2004-01-09 12:11, By: Jeepg, IP: [24.238.67.182]

L2: IRS checksNeedless-to-say, the IRS keeps this information close to their vest. However, conversationally, they have indicated that taxpayers taking 72(t) distributions are no more nor less likely to be audited than anyone else. However, once audited, rest assured that the SEPP plan will be reviewed in minute detail.
TheBadger
wjstecker@wispertel.net
2004-01-09 13:07, By: TheBadger, IP: [38.116.134.130]

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