- 5 -
Expenses 1993 1994 1995
Car and truck $2,774 $1,776 $2,776
Forms 10994 178,340 148,900 105,910
Depreciation 3,637 -0- 3,109
Insurance 4,125 4,125 4,775
Legal 670 510 820
Office expenses 472 378 4,258
Repairs 668 569 2,569
Supplies 12,944 23,918 21,458
Taxes and licenses 512 312 518
Utilities 1,198 998 2,797
In 1996, the IRS examined Mr. Furnish’s tax returns.
Sometime before the audit, Mr. Buckner became seriously ill and
was hospitalized. The doctors told Mr. Buckner’s wife that Mr.
Buckner was dying and that he would not last another week. At
this time, without Mr. Furnish’s knowledge or consent, Mr.
Buckner’s wife threw out all of Mr. Buckner’s client records,
including Mr. Furnish’s records. During the time the examination
was being conducted, Mr. Buckner died.
After he learned that his records had been destroyed, Mr.
Furnish went to suppliers to try to obtain records of what he
paid them. With few exceptions, no records existed other than
the ones that he had given to Mr. Buckner (which were destroyed).
Mr. Furnish sold his car and hired an attorney to represent
him during the IRS examination. After a short period of time,
4 These figures represented amounts Mr. Furnish paid to
carpenters and laborers he hired to help him with his
construction work.
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Last modified: May 25, 2011