September 30, 2008
GAO: Improving Rental Real Estate Tax Compliance
The Government Accountability Office yesterday released Actions That Could Improve Rental Real Estate Reporting Compliance (GAO-08-956):
At least an estimated 53% of individual taxpayers with rental real estate misreported their rental real estate activities for tax year 2001, resulting in an estimated $12.4 billion of net misreported income.
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» GAO: most Schedule Es are botched from Roth & Company, P.C.
The Government Accountability Office says 53% of returns reporting real esate income are wrong, to the extent of $12.4 billion... [Read More]
Tracked on Oct 1, 2008 8:44:42 AM