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Can the IRS conduct 2 audits on a business right after another?

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  • DAW
    Conversely, IRS tends to get bored and leaves when they do not find anything interesting in a reasonably short time. I have heard (possibly correctly) that while the IRS auditors do not have quotas for penalties, promotions are largely a function of doing well penalty wise.

    There is an old joke about two business people in the jungle when they see (and hear) a lion running towards them. The first person runs, but the second person stops to put on running shoes. Person one says "Are you crazy, you cannot outrun a lion". Person two say "Yes, but I just have to outrun you".

    IRS audits work the same way. You do not need to perfect. You just need to be in good enough shape for IRS to look for an easier meal elsewhere. If they are coming back, then you apparently are the easier meal.

    Leave a comment:

    Yes it does - and usually does when it finds things awry.

    Leave a comment:

  • Can the IRS conduct 2 audits on a business right after another?

    Does the IRS have the power to perform an audit then immediately conduct another, or some other type of investigation on a business?

    Just curious, Thanks
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