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We prepare most type of tax returns:

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Amended.

Gary Bode, CPA is a Master's Degreed, nation wide accountant offering tax and business services. Member of AICPA and NCACPA. Our virtual office provides excellent service to long distance and international clients. Call (910) 399-2705 for a free phone consult.

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Amended Tax Return and IRS Resolution

I was initially worried about picking someone off the internet but your testimonials sold me so I would more than happy to assist and hopefully the next person will be at ease choosing to utilize your services. I am pleased to write you to let you know I received a response from the IRS in response to the schedule C you assisted with filing. They responded saying the information supplied was sufficient and they have closed discrepancy. I spoke with the IRS and they said no tax is due. I asked even though I did make a $400 profit and they said again no tax liability is showing that the case was closed. I just wanted to thank you again for your assistance with this issue.

Jason Stoltz

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Even though Gary enjoys helping colleagues, we no longer provide free consults to other tax preparers. He's happy to consult on an hourly billing basis if our schedule allows.

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Form 1065 CPA warns of increased Tax Audit Rates for Partnership tax return | Form 1065 tax audit

Form 1065 CPA IRS tax audit of Partnerships

Gary Bode CPA: Partnerships should take any IRS tax audit of Form 1065 seriously. (910) 399-2705

The IRS says it will increase the tax audit rates of Form 1065 for “several” years, starting in 2012. The IRS audited 13,770 Partnerships, out of the 3.4 Million Form 1065(s) filed last year. But the “no change” rate was 46%. So Form 1065 CPAs suspect the IRS might be tuning up its selection process on which Partnerships to audit. For tax audits that did find changes I suspect that dollar amount is about $100,000, through inference to a published S Corporation figure.

What to expect on a Form 1065 IRS audit. Here’s an earlier post on Form 1065 tax audits.

  • Close examination of the Partner’s equity accounts. Who put what into the Partnership and who took what out.
  • Undisclosed Income: nothing special here, this is a given on almost any audit.
  • Employees being paid as subcontractors. Here’s our post on this IRS issue and their remedial VCSP.
  • Verification of deductions.

I’m a Form 1065 CPA with a virtual office to serve your Partnership where ever you are. Distance isn’t factor. Please read a few of the hundreds of posting on this website to help eval my abilities and proactive philosophy. For a free phone consult call (910) 399-2705.

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