An ex-IRS agent who wants to help taxpayers. Too good to be true? No!In this Hidden Money Podcast episode, meet Gabe Hogan, tax attorney, ex-IRS agent, and now a Tax Manager for Revo Taxpayer Advocacy. Gabe’s passion to help taxpayers is palpable as he unpacks the inner workings of the IRS to enable taxpayers to understand the system, its compliances, and how to navigate both the system and the tax code successfully to protect and build your wealth. This is your golden chance to lose your fear of the IRS!
Highlights:
Introduction and Gabe Hogan’s Background [00:00]
-Introduction of the episode and Gabe Hogan, a former IRS agent and attorney.
-Gabe shares his journey from law school to the IRS, and his transition to Revo Taxpayer Advocacy.
Understanding the IRS Structure [02:40]
-The IRS as the largest accounting firm in the world, detailing its divisions and operational inefficiencies.
-Discussion on the IRS’s dual approach to compliance: enforcement and voluntary compliance.
The Role of CPAs in Compliance [04:50]
-Discussion on the CPA’s role in compliance, emphasizing that CPAs are tax advocates, not enforcers.
-Analogy comparing tax compliance to driving and traffic laws.
Gray Areas in Tax Law [08:39]
-The gray areas in tax law and how the IRS approaches audits.
-The IRS’s adversarial approach, where agents default to the government’s favor.
Audit Process and Agent Behavior [16:18]
-Insights into the audit process, the criteria for selecting audits, and the performance metrics for IRS agents.
IRS Inefficiencies and Challenges [18:54]
-The outdated systems and inefficiencies within the IRS, including the continued use of MS-DOS and fax machines.
-Frustrations of both taxpayers and tax professionals due to these inefficiencies.
Navigating the IRS and Audit Triggers [21:07]
-Common audit triggers and red flags, including high income and large deductions.
-Discussion on the Discriminant Index Function (DIF) score, used by the IRS to assess the likelihood of recovering additional taxes.
-Practical advice for taxpayers and professionals on how to avoid drawing unnecessary attention from the IRS.
Disclaimer: The content of this podcast is not legal advice and is meant for educational purposes only.
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