Internal Revenue Service Vows To Make The Richest Americans Pay Their Dues
If you're insanely wealthy, hold on to your seat: the Internal Revenue Service is out to get you. That is, if you have been scamming Uncle Sam. Last tax season it was made apparent that the IRS was leaner, meaner, and that it was on the lookout for tax evaders. This past fall, the IRS Commissioner Doug Shulman announced something called a "Global High Wealth Exam Group." The main task of this group is to make sure that the richest people in America are paying what they owe in taxes.
How To Avoid An Audit By The IRS- Part One
The IRS, armed with more funding and smarter computers, is planning to amp up its audits of individual taxpayers this year. Although if you have high income you are less likely to simply fall below the radar, having a lot of money alone is definitely not the only factor that can trigger an audit. Actually, last year only about 6.4 percent of the country's 440,000 highest-income tax payers were audited.