Instructions for Form 8918

The link will take you to Instructions for Form 8918, or in other words, a Material Advisor Disclosure Statement.

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  1. IRS audits u online, facebook twitter etc
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    Published on September 7, 2017
    LikeIRS audits u online, facebook twitter etc0Comment0ShareShare IRS audits u online, facebook twitter etc0
    Lance Wallach
    Lance Wallach
    Business Owner at National Offices of Lance Wallach
    Are u afraid of the IRS, be careful. If u are online you may be audited.

    Lance Wallach

    Just now ·

    IRS has used social media to mine data in search of taxpayers to audit. Most notably, the report made reference to a 2013 fraud case in which a Florida woman was convicted of tax evasion after bragging about being the “Queen of Tax Fraud” on Facebook.

    In 2011, the IRS created a new “Office of Compliance Analytics” division due to the huge toll tax evasion was having (and continues to have) on the U.S. government. After losing an estimated $3 trillion between 2000 and 2009, the IRS began to make use of big data and predictive algorithms to track down tax evaders. The agency uses data analytics based on “highly detailed profiles” of taxpayers created from sources other than tax returns. t the IRS mines commercial and public data from a variety of sources, including Facebook, Instagram and Twitter.the IRS has created an algorithm to verify information taxpayers have provided on their returns.

    It is plainly evident to this author that an IRS auditor or criminal tax investigator could draw a fairly accurate depiction of a couple’s lifestyle depending upon how much of their lives they share online. Think about how many people share relevant and real time information on the car they purchased, the meals they ate, the concerts and sporting events they attend, the house they purchased etc. – Online.