Hi CB, I haven't been on in some time. Been busy and my credit has been in cruise control since I cleaned it up.
I did have the privilege of going through an audit with the IRS due to my ms activities and thought I would share and provide some information to the community as well as a word of caution.
I was audited for 2016 and later expanded to included 2015 as well. After running approximately 500k through my WF card, the IRS determined that I owed approximately $250,000 in back taxes plus penalties and interest.
I'll fast forward to the end and let you know the IRS eventually adjusted the numbers and removed everything they tacked on.
My only saving grace was that at some point during my ms adventure, I decided it was a good idea to start holding on to everything. So while I was missing a few weeks, I had the majority of every gift card receipt, money order receipt, and deposit slip. I was advised that, had I not had that, the IRS would have had to designate every deposit as additional income.
Regardless, it was a major pain trying to get statements for banks and credit cards, when some where no longer open, and try to put it all back together to be able to show the IRS.
In the end, all is right in my world and everything ended up working out but I did want to caution anyone interested in ms. To each their own but just remember, there is always the possibility of the IRS getting involved.