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Cost Segregation ATG - Chapter 6.7 Information Document Requests

 

Note: Each chapter in this Audit Techniques Guide (ATG) can be printed individually. Please follow the links at the beginning or end of this chapter to return to either the previous chapter or the Table of Contents or to proceed to the next chapter.

Chaper 6.6 | Table of Contents | Chapter 7.1

APPENDIX - CHAPTER 6.7 - INFORMATION DOCUMENT REQUESTS

INTRODUCTION

Appropriate documentation is needed to support the conclusions in a cost segregation study. Once an examination has revealed the use of cost segregation techniques, the examiner needs to review the supporting documentation to determine whether an examination is warranted and, if so, the scope of the examination.

The use of appropriate Information Document Requests ["IDRís"] will facilitate the identification of available records for review and the solicitation of records from the taxpayer. The sample IDR language is intended as a suggestion for obtaining records. One or more IDR's may need to be issued and examiners should "tailor" the language to each specific case.

  1. Purpose - To identify the participants and their respective roles in the preparation of a cost segregation study/analysis.

    Taxpayer, Inc., made changes to cost recovery deductions for its properties based upon recommendations from its consultant through Cost Segregation reports. A review of these recommendations is necessary.

    The Engagement Letter/Letter of Understanding between Consultant and Taxpayer, Inc., is requested to show the extent of the Cost Segregation engagement, the steps taken to gather information, and the way in which the work was to be reported.

    Additionally, a conference is requested with a representative from Consultant to describe the Cost Segregation process and to answer questions concerning the style and general cost computations. It is expected that a telephone conference will be suitable, provided the Engagement Letter/Letter of Understanding has been furnished.

  2. Purpose - To identify the specific properties subject to cost segregation study/analysis
    Pl
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