gabletax
Level 5
03-27-2022
03:53 PM
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Everyone that thinks the IRS cross-checking system won't raise a red flag if NEC's plus K's add up to more than gross receipts reported on the tax return, raise your hand, please.
I'm with Jim. If it adds up to more than actual gross receipts, prevent a headache for your client and you, and do the IRS a favor, by somehow reconciling this on the tax return to prevent red flags.