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Avoid an IRS Audit

Avoid an IRS Audit - After years of ignoring the ability of the rich to get around the tax code, the IRS has been cracking down on abuses by the wealthy.

One of the reasons for making a move on the wealthy is that the abuses have been so flagrant that even Congress was offended. Plus, the government needs the cash.

One way to get that cash is to make sure everyone pays his or her fair share -- including the rich, who can afford to pay high-priced tax attorneys to find the cracks in the tax code. These tax experts design investments for their clients and structure their financial situation so that much of their income is sheltered from tax.
They do a great job.

For tax year 2006, 8,252 returns with incomes of $200,000 or more showed no income tax liability. That was up from 7,389 in 2005. Cheating by corporations and individuals has been found to be worse than was once thought.

Source: http://articles.moneycentral.msn.com/Taxes/AvoidAnAudit/6waysToKeepTheIRSatBay.aspx

Avoid an IRS Audit
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