Factual error: When Medina and the IRS Agent are searching through the database to check Paul's Laundromat's tax return, it's mentioned that Paul's Laundromat is a partnership, with Christian Wolff as a managing partner. However, the tax return shown on the screen is a Form Schedule C which is a form filed with a personal 1040 tax return. A partnership should be using Form 1065 with a schedule K1 to flow through to a form 1040. (01:18:17)
Factual error: When researching Christian Wolf in the IRS database, they state he made $75,000 and ran ZZZ Accounting. They then look up 3 other businesses with over a million dollars in income, said they were all partnerships and stated that Christian Wolf was managing partner. Given that partnerships are flow through entities for income tax purposes, all that income would flow through to individual returns, resulting in much more than $75,000 in income on Christian Wolf's tax return.
Factual error: The Department of the Treasury seal on the podium at press conferences list the date of the Department of the Treasury on the bottom of the seal as 1788. The Department of the Treasury was actual established on September 2, 1789.
