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05/27/2008

Barter Is Not An IRS Target!

Perhaps the most entrenched myth about barter�one that many CPAs themselves perpetuate out of lack of current information�is that it flags a company for an IRS audit.

Source of the myth: Between 1979 and 1983, the IRS put considerable resources into a project to examine the barter business. During that period, all trade exchange networks were audited, along with a sample of their clients� returns. The study disclosed that businesses that used barter had a better than average record of tax compliance.

Today, a company that barters has the same chance of being audited as any other organization.


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