1) So, real talk here. Let’s real talk this shit.
I am familiar with construction industry accounting.
I am also familiar with auditing practices with regards to investigations.
It’s not just about the fucking money.
I am familiar with construction industry accounting.
I am also familiar with auditing practices with regards to investigations.
It’s not just about the fucking money.
2) What the tax returns represent is a key to a luxury yacht for a fishing expedition.
With a tax return, a route of investigation can be pulled from thin air essentially, and ALL the business records become revealed. ALLLLLL of them.
With a tax return, a route of investigation can be pulled from thin air essentially, and ALL the business records become revealed. ALLLLLL of them.
3) Invoices for Chinese steel.
Contract labor records where contractors ended up being illegals with stolen identities.
Trade-outs.
Handwritten notes saying ‘cut X a check for Y’ with no further details.
Employees being paid bonuses under the table to avoid taxes.
Contract labor records where contractors ended up being illegals with stolen identities.
Trade-outs.
Handwritten notes saying ‘cut X a check for Y’ with no further details.
Employees being paid bonuses under the table to avoid taxes.
4) If they get those tax records, they could wreak untold havoc potentially with a fishing expedition.
But that’s all they’d have; a fishing expedition.
You see, an unspoken, wordless agreement exists, and has existed ever since Enron, and the prosecutorial abuses that ensued.
But that’s all they’d have; a fishing expedition.
You see, an unspoken, wordless agreement exists, and has existed ever since Enron, and the prosecutorial abuses that ensued.
5) This secret is ultimately left unacknowledged, and no accountant will speak openly of it.
But I’m like, 3 glasses in, so here it goes.
But I’m like, 3 glasses in, so here it goes.
6) You see, accountants have a general standard set of practices, a framework that exists, in the form of double entry bookkeeping.
We have debits, we have credits (the adding and subtracting) and we have accounts. All the debits and credits throughout the accounts balance.
We have debits, we have credits (the adding and subtracting) and we have accounts. All the debits and credits throughout the accounts balance.
7) BUT, there’s also a concept of good faith effort. You see, once you get past the skeleton of the system, there’s a bit of flexibility in how its implemented, so long as you put forth your best faith effort to portray the flow of money in a company accurately with documentation
8) Did a contractor turn out to be illegal? Yes, BUT, he was insured, and he provided a social security number. So, hey, you tried.
Repeat this ad nauseum, and thats every accountant ever.
The IRS are all accountants.
Repeat this ad nauseum, and thats every accountant ever.
The IRS are all accountants.
9) When auditors and accountants speak to each other, it sounds like clicks and whirrs to most people.
Do companies commit egregious crimes sometimes? Yes of course. And those are dealt with. Usually by thr accountant resigning in protest and telling the IRS where thr fraud is.
Do companies commit egregious crimes sometimes? Yes of course. And those are dealt with. Usually by thr accountant resigning in protest and telling the IRS where thr fraud is.
10) I’ll tell the story of Enron another time.
But, to close this up, yes, the tax returns are a problem. Forget about crimes; the records along are a nightmare in public hands, because not one jackasses who’ll see it will be an actual accountant.
But, to close this up, yes, the tax returns are a problem. Forget about crimes; the records along are a nightmare in public hands, because not one jackasses who’ll see it will be an actual accountant.
