Thursday, July 12, 2007

Congress to IRS, Conduct More Audits!

According to, the Government Accountability Office has directed the IRS to raise revenue by increasing the amount of taxpayer audits they perform. Congress directed the IRS to pay close attention to the following taxpayers: schedule C filers, Partnerships and S-Corporations, especially S-Corporation owners who do not take appropriate salaries, gamblers, part-time farmers, individuals who file Schedule A and claim large amounts of medical deductions, charitable contributions and job-search expenses, and investors who do not properly report sales of investment properties.

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