ST Alpha - "I'm honestly not 100% sure what's going on. I wouldn't be surprised if he gets audited every year if the 500 partnerships is a correct figure." (Reading a Post)

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In response to "I came across a mini-tweetstorm yesterday about how he's not being audited and that this is normal review for complex organizations that happens " by ty97

I'm honestly not 100% sure what's going on. I wouldn't be surprised if he gets audited every year if the 500 partnerships is a correct figure.

Posted by spamlet, spreading happiness and joy where he goes (aka spamlet) Mar 31 '16, 08:35

Especially if they have losses because the statute of limitations is open until the year in which the losses are finally used is closed.

For instance, if he has losses that date back to 2002 that finally get used in 2013 (they're good for 20 years), his 2002 return can be adjusted until 2016, when the 2013 statute of limitations closes.

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(or at least some of the partnerships get audited which would flow through to him) -- nm - spamlet, spreading happiness and joy where he goes Mar 31, 08:37 2
- This is the guy who had the tweetstorm. He tweets lot so you need to scroll down to get to last evening. -- (link) - ty97 Mar 31, 08:44 1
  - I think he's making it a much larger difference than it is. Either way you're being examined by the IRS so whether you call it an audit or a review it - spamlet, spreading happiness and joy where he goes Mar 31, 08:59

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I'm honestly not 100% sure what's going on. I wouldn't be surprised if he gets audited every year if the 500 partnerships is a correct figure.

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