FYI Tax Payers

[riona]

http://www.capitolhillblue.com/content/


The less you make, the more they audit
The lower your income, the greater the odds you will be summoned to one of those miserable face-to-face IRS audits. Syracuse University's Transactional Records Access Clearinghouse has found that those reporting less than $25,000 in income were six times more likely to be called into the IRS for a personal audit last year than those reporting income of more than $200,000.
April 1, 2006 02:41 AM, Roundup

:shrug:

[mmonk]

1. I guess they are going where the numbers are.

Less people making more than $200K? Problem is, it would be harder to cheat making less than $25K.

[zalinda]

2. That's because those who make less than $25,000 don't have

the resources to fight them. Lawyers cost money and those who make more than $200,000 have money for the lawyers. So, you go after the easy prey.

zalinda

[Sgent]

3. There are other reasons

People who are not self employed making 200K+ have much easier taxes to compute than those making 15K.

For people above 200k, they lose most deductions, exemptions, credits, etc -- so there is nothing to audit.

If you are self employed, the Schedule C might be audited, but the rest of the tax return generally takes care of itself.

[oneold1-4u]

4. This year with tax filing

This year, a person may ask for an extension and now get 6 months instead of 3 and asking for another 3. Whether you owe or not it would be a good idea to put it off as long as possible. Who knows where or what will transpire in the next 6 months.
It is still getting worse every day with this power administration and there could be many more natural "Katrinas, earthquakes, bird flus, 9/11s, rebellions, and even resignations of high officials.
Now look at it this way; If you do owe you can start paying taxes possibly after a new congress is formed (and maybe even a new administration). If you have money coming back, you can use it to help the people who can make changes.
If you are one of the thousands who are lost in natural or man made disasters, (thousands missing-Katrina)they can't send you a tax bill or spend any refund due for years.
OF COURSE ANY YOU HAVE ALREADY PAID THROUGH WITHHOLDING OR SELF EMPLOYMENT, IS GONE!
Just bush and cheney trips have eaten up more taxes than over five million working people have paid since 2000!