The IRS Plans to start Random Audits
This entry was posted on 6/26/2007 2:42 PM and is filed under uncategorized.
From SmartPros: "Beginning this fall, the Internal Revenue Service plans to revive a once-controversial practice of randomly targeting thousands of taxpayers for audits, even when the agency has no reason to suspect them of wrongdoing. IRS officials expect the tax probes to provide fresh data to update the top-secret formulas the agency uses to help select which returns to audit and thus enable it to do a better job of combating tax-dodging.
The first wave of random audits will start in October and target about 13,000 income-tax returns for the 2006 tax year, selected from various income categories. The IRS says it expects to conduct random audits on similar-size groups in subsequent years." Audit
My comment: At 13,000 returns, your chances of being audited at less than 1 in 5000.
