{"version":"1.0","type":"rich","provider_name":"Acast","provider_url":"https://acast.com","height":250,"width":700,"html":"<iframe src=\"https://embed.acast.com/$/596ee8b36b3475a168b0d8f5/6a98f67dbe98057961cf6c26?\" frameBorder=\"0\" width=\"700\" height=\"250\"></iframe>","title":"Former IRS Agent Reveals How Audits Really Work (Gabe Hogan)","thumbnail_width":200,"thumbnail_height":200,"thumbnail_url":"https://open-images.acast.com/shows/596ee8b36b3475a168b0d8f5/1788409445731-3c0137e0-2382-4e25-8a43-5fdd1850c7ba.jpeg?height=200","description":"<p>📚 Unlock the secrets to building wealth! My book and 12-module Masterclass cover everything I’ve learned about passive investing and creating financial freedom. Watch it on-demand for FREE: http://thewealthelevator.com/master</p><p><br></p><p>🤝 Join the Hui Deal Pipeline Club and get a one-on-one call with me to discuss your investment goals: https://thewealthelevator.com/club</p><p><br></p><p>A host interviews Gabe Hogan, a tax attorney and former IRS revenue agent, about how IRS audits work, why high-profile taxpayers are treated as examples to drive compliance, and why taxpayers—not preparers—are usually on the hook for penalties and interest. Hogan describes IRS bureaucracy, outdated systems, staffing declines, and increased hiring of non-tax personnel, plus the growing use of AI models that flag more returns amid a shrinking workforce. He explains how returns are graded with DIF scores, how agents and managers triage audit “stacks,” and why clear categorization and attaching substantiation (e.g., cost segregation reports) can reduce audit risk. They discuss common self-prep and CPA errors (TurboTax, misclassification, NIIT on business exits), documentation needs, audit escalation paths (agent, manager, Appeals, tax court), and strategies like the Augusta Rule when properly documented.</p><p><br></p><p>00:00 Celebrity Audit Fear</p><p>00:50 Wild Deduction Stories</p><p>02:10 Meet Former IRS Insider</p><p>03:36 From Bulls to Tax Law</p><p>06:14 Credentials Alphabet Soup</p><p>13:09 Taxpayer Liability Reality</p><p>14:58 Why Not TurboTax</p><p>18:24 Augusta Rule Done Right</p><p>22:53 Breaking Up With Your CPA</p><p>25:20 How Audits Get Picked</p><p>27:13 DIF Scores Explained</p><p>29:42 Stacks Managers and Backlogs</p><p>33:59 Statutes and Audit Chess</p><p>35:28 Audit Negotiation Tactics</p><p>37:12 Audit Types And Escalation</p><p>40:19 IRS Fear And Compliance</p><p>42:14 Gray Area Tax Strategy</p><p>44:45 Substantiation And Materiality</p><p>51:23 Regional IRS Culture</p><p>54:25 Politics And IRS Slowdown</p><p>56:29 Guest Wrap And Contact</p><p>57:14 Deal Desk Pitch</p><p>01:00:11 Due Diligence Framework</p><p>01:02:46 Final Call To Action</p><p><br></p><p>Connect with me:</p><p>LinkedIn: https://www.linkedin.com/in/lanekawaoka/</p><p>Facebook: https://www.facebook.com/TheWealthElevator</p><p>Instagram: https://www.instagram.com/TheWealthElevator</p><p><br></p><p>Lane Kawaoka is a developer and multi-family syndicator who owns 10,000+ rental units and is the leader of “Hui Deal Pipeline Club” which has acquired over $2.1 Billion AUM of real estate by syndicating over $200 Million Dollars of private equity and most importantly distributed more than $45M back to our investors since 2016. </p><p><br></p><p>Check out our Top-50 Investing Podcast, The Wealth Elevator.</p>","author_name":"Lane Kawaoka, PE"}