 Posted: Mon, Jan 31 2005, 5:24 pm EST Post subject: 5 audit red flags |
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| 5 audit red flags
Do you really think you can outfox the IRS? It's best not to try. NEW YORK (CNN/Money) - Even Survivor Richard Hatch shouldn't try to "outwit, outplay or outlast" the IRS. Hatch, the first winner of the televised competition, "Survivor," pled guilty in January to filing a false tax return after omitting his $1 million prize and other monies paid to him. Not a smart thing to overlook. But many lesser-known taxpayers could also find themselves in trouble as the IRS continues to boost its enforcement efforts. In 2004, the total number of individual taxpayer audits exceeded 1 million for the first time since 1999, and the agency reaped a record $43.1 million in enforcement revenue, up 15 percent from the previous year. (more...) |
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