An acrimonious divorce, ownership dispute or occupational theft incident could all lead an individual or business to wrongfully hide items of value. In such cases, fraud experts use a variety of tools to uncover the assets, starting with net worth analysis. This looks at changes in a person’s worth, reconciling those changes with income and
hidden assets Archives - Crawford Ellenbogen
Oct 1, 2019
Jan 10, 2019
How experts use tax returns to find hidden assets
- By Ellenbogen
- Business, Fraud
- 0 Comments
Business owners engaged in fraudulent activities often try to manipulate their companies’ financial statements. Fortunately for fraud experts, business owners’ tax returns aren’t as easy to misrepresent. Certain items on an owner’s Form 1040 can reveal hidden assets and income sources, particularly lines reporting income from wages, tax-exempt interest income, retirement plan distributions and refunds.