Otherwise if the IRS sees a 1099 against an LLC's EIN but never know where that income flows into, they may request an audit?

Imagine she gets audited and it's determine basis was incorrectly calculated and she owes money.

Also remember the time these returns will take to amend along with the possibility of opening up audit periods/red flags with the IRS due to amendments.Doing this yourself on turbo tax likely won't be your best bet considering all of the details.

Chris Voss calls it the Accusation Audit, where you start out by listing all the problems and costs, and then ask how can we get this done.Every deal and seller are unique, and the goal is to find out their motivation and how you can solve it, quickly.I would definitely re engage the broker in the week to come to see the activity on the deal, and if it has tradedGino

The last thing you want is the IRS showing up on your door step or for you to be caught in an audit and unable to support your stance. 4.

Im sadly here to tell you that under audit, and we have 100s of court cases to back this up, that this WILL NOT FLY.

Could you please point me to the official source so I can save it up for auditing purpose?

Does anyone think it would be worth telling the county about the error, and run the risk of the county auditing the house and raising the house value, thus raising the property tax?

Do you have audited financial statements?  

Account Closed, just let her know that the state will be coming in to do an audit of her files to get that information if she isn't able to sign that.