I recently ran across some interesting information that I thought I would share. While I was preparing a case study for a business certification, I needed some accounting and financial information about the construction industry. In my packet of data from the certifying organization was some “Helpful Industry Data”. To my surprise it was an IRS Construction Industry Audit Guide. It is used by IRS auditors to understand the construction industry and it had A LOT of information about the industry, glossary of terms, types of contracts, types of contractors, definitions accounting methods, accounting requirements, and way more than I ever really wanted to know. The neat part was that it got me to thinking. Are there other audit guides out there? Can I get them off of the Internet? The answers were “YES” and “YES”.
I knew that the IRS has a lot of information regarding business taxes, but they also have a whole lot more. Check out www.irs.gov and see what I mean. They have information on business tax issues from starting a business to closing it, but they also have information in their “Audit Technique Guides” from Aerospace to Veterinarians – and a lot in between. Have you had trouble sleeping at night? Check out this website and let us know what you think. There is enough there to put you to sleep, right?