Wednesday, December 6, 2006

More tax audits, less nit picking

I'm paraphrasing this which I read in the Kiplinger Tax Letter.

The IRS has indicated that it will focus on performing less strict audits and try to find 80% the underpayments in eight examinations instead of trying to find 100% of underpayments in four audits.

Makes sense to me. That was my approach when I was an auditor (not an IRS auditor though).

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