The good news is that the trend seems to be targeting the wealthiest taxpayers and corporations. According to an AP article, audits have increased by nearly 11% in 2010. Besides the super-rich, the IRS is also stepping up audits of Charities and other Tax-exempt organizations. Out of nearly 143 million tax returns filed, only slightly more than 1% were individual returns that were audited.
While we don't always like to hear that the IRS has been increasing their auditing practices, keep in mind that auditing keeps us all safe from those that try to game the system for their own personal gain.
When you file an accurate tax return and keep all appropriate records, in the event that you are audited, you will come through none the worse.
While we don't always like to hear that the IRS has been increasing their auditing practices, keep in mind that auditing keeps us all safe from those that try to game the system for their own personal gain.
When you file an accurate tax return and keep all appropriate records, in the event that you are audited, you will come through none the worse.
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