
- April15 2003
- Volume 10
- Issue 7
RANDOM AUDITS SET
The "audit from hell" is back. Forthe first time in more than a decade,the IRS is subjecting about 1700 randomlychosen US taxpayers to a rigorousaudit this year. These unluckycitizens will be asked to undergowhat the agency calls "calibration"audits, which will question just aboutevery line on their tax returns.Another 32,000 taxpayers will besubject to face-to-face audits on specificareas of their returns. The IRSwill mail lists of targeted questions toanother 7000 taxpayers, who will beasked for written replies. IRS officialsinsist that the calibration auditswon't be as bad as those done the lasttime around, which one physicianhas described as "an autopsy withoutthe benefit of death." If you're calledfor a face-to-face audit, hire a taxprofessional to represent you if youdon't already have one.
Articles in this issue
about 18 years ago
Secure Tomorrow, Don't Lose Todayabout 18 years ago
Avoid the Turmoil of Insurance Mistakesabout 18 years ago
Bulletproof Your Car from the IRS' Aimabout 18 years ago
The PMD Answerman Q & Aabout 18 years ago
Impart Financial Values to Your Childrenabout 18 years ago
Watch Your Nest Egg's Financial Healthabout 18 years ago
Invest Some Land in Your 401(k) Accountabout 18 years ago
Plan According to Social Security Rulesabout 18 years ago
Discover Another Defined-Benefit Avenueabout 18 years ago
Know All Your Estate Planning BenefitsRelated to this article








