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Tax News Jun 2016 - "Love Losing Money on the Side?"

Tax News Jun 2016 - "Love Losing Money on the Side?"

Tax News Jun 2016 - "Love Losing Money on the Side?"

Excerpt


Love Losing Money on the Side 



This might come as a shock to those who think the IRS has already been aggressive in enforcing hobby loss limitations, but the Treasury Inspector General for Tax Administration (TIGTA) disagrees. The TIGTA believes the IRS has been lax in going after hobby loss tax cases, and this is likely a harbinger for increased crackdowns on hobby loss deductions. The most recent TIGTA's report also provides valuable information about what the service considers potential audit triggers and how to avoid them. 


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