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Irc 1674/7/2024 Laudon failed to keep books and records supporting his business income. With the government finding that many of Dr. Laudon’s explanations strained credibility, the scene was set for an all-out battle. Upon audit, the IRS agent likely focused attention on the taxpayer’s Schedule C, when it became evident that the taxpayer did not maintain records of his income and expenses in “any decipherable form.” Adding fuel to the fire, Dr. Laudon, who represented himself in the matter, responded with incredible explanations to many of the auditor’s inquiries about his financial recordkeeping and the support for his business expenses. A substantial deduction for mileage equating to tens of thousands of miles each year were allegedly driven by the taxpayer in the ordinary course of treating patients.Business expenses for operating the taxpayer’s home office included the cost of several items not customarily found in a chiropractic physician’s office, including a Microsoft Xbox 360, a Nintendo Wii, several big screen televisions, and hair salon equipment.Business receipts of approximately $290,000 were deposited into the taxpayer’s business bank accounts, but only about $210,000 made their way onto his income tax returns.His dispute with the Internal Revenue Service (“IRS” or “Service”) involved at least three items relating to Schedule C of IRS Form 1040 for Tax Years 2007-2009: Laudon, was a chiropractor licensed to practice chiropractic medicine in the State of Minnesota.
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