The IRS is out for our money (agents, investor, interest)

[2bindenver]

Is the IRS Targeting Real Estate Agents?
by Diane Kennedy
The days of the kinder, gentler IRS are over. The management of the IRS has purportedly told the auditors to "audit more rigorously and go collect some money!"

That translates to selecting more tax returns for audit and testing the interpretations of IRS Code and Regulations, and not in our favor. One issue under fire right now is the definition of "Real Estate Professional."
Realty Times - Real Estate News and Advice

[MikeJaquish]

End deductions for everything.
HB 25.
The Fair Tax.

[palmcoasting]

It would be interesting to see what 'two' cases she talking about but it seems to me that they aren't concerning themselves with agents, they are concerning themselves with investors who do not do this for a living for themselves, not for others. Trust me, we're all racking up over 720 hrs per year. I don't see 'real estate agents' as the lay person would define them as being in any trouble.