A recent report from the Treasury Inspector General for Tax Administration said that higher scrutiny is needed for returns that report losses from rental real estate property. The report predicted that greater scrutiny could lead to over $27 million in revenue over the next five years. The full report can be found at http://www.treasury.gov/tigta/auditreports/2011reports/201130005fr.pdf.
Posted by James G. Haskell, Senior Associate Editor, Wealth Strategies Journal.
Posted by James G. Haskell, Senior Associate Editor, Wealth Strategies Journal.
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