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IRS Audit |
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In 2005 Uranga & Associates was contacted by IRS tax shelter inspectors requesting a compliance review of our IRA/real estate program. This gave Uranga & Associates along with their CPA advisors the opportunity to sit down with IRS tax shelter inspectors to present the details of the OUTSIDE® method of investing in IRA/real estate. Each phase of the OUTSIDE® method process was carefully discussed and scrutinized in particular with regards to tax sections 6694, 6695, 6700, 6701, 7402, 7407 and 7408. After thorough examination the IRS inspectors were satisfied of full compliance. Uranga & Associates was officially notified by Letter 1866 (Rev. 4-2004), dated September 26, 2005 that action under these code sections was discontinued. This thorough audit of Uranga & Associates’ proprietary process resulted in clearance from the IRS Tax Shelter Inspectors that our OUTSIDE® program conforms with, and is in non-violation of, all applicable legislated tax laws. |
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