Description

IRS Tax Audit Manual for the General Livestock Industry

Provides a focus on the business of breeding, raising, buying and selling livestock.

TABLE OF CONTENTS

• 1, INTRODUCTION
  • Purpose of the Guide 1-1
  • Keeping in Touch with the Industry 1-1
  • Compliance Potential 1-2
  • General Livestock Risks 1-3
  • Changes in Methods of Accounting 1-4
  • Conclusion 1-5
• 2, EXAMINATION TECHNIQUES
  • Pre-Planning 2-1
  • Document Request/Appointment Schedule 2-1
  • Initial Interview 2-2
  • Site Visit 2-2
  • Audit Steps 2-3
  • Closing Conference 2-4
  • Conclusion 2-4
• 3, INDUSTRY ISSUES
  • Common Issues 3-1
  • Breeder Operation 3-1
  • Fattening/Feeding Operation 3-1
  • Issues 3-2
  • IRC section 1231 3-2
  • IRC section 162 3-4
  • IRC section 61 3-5
  • IRC section 168 3-5
  • IRC section 179 3-5
  • IRC section 183 3-7
  • IRC section 195 3-8
  • IRC section 451 3-9
  • IRC section 465 3-10
  • IRC section 469 3-10
  • IRC section 471 3-11
  • IRC section 1033 3-11
  • Conclusion 3-12
  • Unique Characteristics 3-12
• 4, CATTLE INDUSTRY
  • Introduction 4-1
  • Industry Facts 4-2
  • Issues 4-5
  • IRC section 162 4-5
  • IRC section 61 4-5
  • IRC section 168 4-5
  • IRC section 469 4-5
• 5, DAIRY CATTLE INDUSTRY
  • Introduction 5-1
  • Industry Facts 5-3
  • Issues 5-5
  • IRC section 61 5-5
  • IRC section 168 5-5
• 6, HORSE INDUSTRY
  • Introduction 6-1
  • Industry Facts 6-3
  • Issues 6-3
  • IRC section 1231 6-3
  • IRC section 61 6-4
  • IRC section 168 6-4
• 7, SHEEP AND GOAT INDUSTRY
  • Introduction 7-1
  • Sheep 7-1
  • Goats 7-3
  • Industry Facts 7-5
  • Issues 7-7
  • IRC section 162 7-7
  • IRC section 61 7-7
  • IRC section 168 7-7
• 8, SWINE INDUSTRY
  • Introduction 8-1
  • Industry Facts 8-3
  • Issues 8-4
  • IRC section 168 8-4
• 9, RATITES AND ALTERNATIVE LIVESTOCK INDUSTRY
  • Ratites 9-1
  • Introduction 9-1
  • Industry Facts 9-1
  • End Products 9-2
  • Issues 9-2
  • IRC section 1231 9-2
  • IRC section 61 9-3
  • IRC section 168 9-3
  • IRC section 179 9-3
  • IRC section 195 9-3
  • IRC section 469 9-4
  • Alternative Livestock 9-4
  • Introduction 9-4
  • Issues 9-5
  • IRC section 1231 9-5
  • IRC section 61 9-5
  • IRC section 168 9-5
  • IRC section 179 9-5
  • IRC section 195 9-5
  • IRC section 469 9-5
• APPENDIX – A GLOSSARY-LIVESTOCK TERMS
  • Quick Facts Related to
  • Livestock Farming A-1
  • Cattle A-1
  • Horses A-1
  • Sheep A-2
  • Swine A-2
  • Mink Farming A-2
  • Glossary A-3
• APPENDIX – B INTERVIEW QUESTIONS – BY TYPE
  • Introduction B-1
  • Farm Initial Interview B-2
  • Beef Interview Questions B-7
  • Dairy Interview Questions B-9
  • Swine Interview Questions B-11
  • Sheep Interview Questions B-13
  • Exotic Animal Interview Questions B-15
• APPENDIX – C OTHER SOURCES OF INFORMATION
  • Publications C-1
  • Periodicals and Non-IRS Publications C-1
• APPENDIX – D LIVESTOCK BREED ASSOCIATIONS
  • Ass Breed Associations D-1
  • Cattle Breed Associations D-2
  • Goat Breed Associations D-6
  • Horse Breed Association D-6
  • Sheep Breed Associations D-11
  • Swine Breed Associations D-13
• APPENDIX – E UNITED STATES DEPARTMENT OF
  • AGRICULTURE Electronic Sources of Information E-1