There Will Be More Wealth Examination?

It flew the news that from now on there will be more wealth examination. Well, the news is not true and not so true.

On the one hand, just as many varied than in the past, now that the IRS will not initiate an investigation based on a complaint.

That is not enough to suspect that high leg XY lives, while there is no income.

Otherwise, not so far done so only if someone name and address evidence presented that support the allegation. (Copy of bank accounts, etc.).

It is no coincidence that just started in 1300-1600 study year and already, they are also confident that the tax department itself initiated.

Now all has changed so much that it will no longer be possible to report if someone lives in suspicious circumstances.

There Will Be More Wealth Examination?

Another change is that you will live in a tax office investigation called wealth estimation procedure when criminal case is ongoing. This news was true, but because the IRS extensive investigative powers, there is much that is not going to report, will start the process, if properly suspicion (corporate funds into private hands evasion, embezzlement, fraud damaging budget, etc).

Moreover, it also means that we now have all the wealth at the same time will be a criminal investigation, which is much more serious than previously was a wealth test.

That is not relaxed, but also tightened the law.

(It is said to have been so solutions tried in 2015 the tax office to avoid the tax inspection in the third phase drive you 'd estimation procedure call vernacular wealth - but already by the tax gap as soon as possible, for example because of money unverified bank account is located.)

So I do not want to sit back, the case is not loose, but because of the mandatory prosecution has become tougher, the tax department has not jumped the civic announcements, if they were not supported by documentation.