I don’t usually pass along this kind of information, but it was very helpful to me. An accountant friend of mine emailed me with this:
IRS plans to audit 1 of 44 returns this year to help fund stimulus…targets are:
- EITC,?Earned Income Tax Credit,?
- Schedule C, ?independent small business on the 1040, ?
- Schedule E, ?rental income property?and?
- Form 2106, unreimbursed employee expenses.
Thought you’d like to know!
And when they find I have a few extra nickles I didn’t account for, will they send me a few billion to straighten out the mess? How about an amnesty from audits while we hunt the big fish who have loused up the economy?
Thanks for the information.
It’s like Alice in Wonderland or Kafka, twisted and bizarre.. The big-time offenders get rewarded and the rest of us become prey.
SandyCarlson – I’m certain you’ll get bailed out… after me of course..
Brenda ND – You’re welcome
Heart in SF – This is very well said. Of course, now we know the IRS is hiring…. And homeland, of course
could you tell me where you got your information so I can pass it along to my accountant and maybe he can make sure I don’t fall into any of those categories? Thanks for the info
Yelowflower Mo – I have a friend who is a CFO by day and works at H&R block at night. He passed the information along. I would guess that your accountant is already aware of this.