Tuesday, May 8, 2007

Realtors and the IRS

Some of America's home realtors are getting audited by the IRS because they can't seem to prove that they are not passive real estate investors dabbling in house flips (flops) on the side, but that they are indeed full-time real estate sales professsionals active in a full-time annual job.

For the hundreds of American realtors being audited this year, it's very frustrating and incredibly expensive experience. Many drown in legal fees being because they are considered by the IRS guilty until proven innocent.

"It takes hundreds and hundreds of hours out of my time to provide all these details. I just feel like I'm being harassed."

1 comment:

Economic Despair said...

Realtors and the IRS - what miserable company misery makes.

Enjoy the blog, post more often.