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Politics : Formerly About Advanced Micro Devices

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To: J_F_Shepard who wrote (677604)	10/6/2012 5:35:06 PM
From: i-node	1 Recommendation Read Replies (2) of 1578031

>> .he has to worry about at least 7 years of possible audits... Nonsense. The IRS has three years from the date the return is filed to complete an examination. As of next week (assuming he filed on the extended due date) all returns before his 2008 (with an extended due date of Oct 15, 2009) are barred by statute. At least as significantly, audits of returns of this scope need to begin within a year of being filed to insure they can be completed on time, so it would be unusual for anything earlier than the 2010 return to be selected now, meaning, in effect, he has only two years open, both of which have now been seen by IRS. Individual returns as complex as Romney's -- with as much income and charitable deductions as he reported -- are examined in house in depth by humans. Were there anything unusual about them, it is highly likely an examination process would begin soon after filing as IRS realizes it will need a very long period of time to conduct an examination.

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