advertisement
Looking for something on the site? Search for it here! Also see Clark's Greatest Hits

Apr 13, 2007 -- IRS targeting higher income earners

The IRS is trying to put fear into people about what could possibly get you audited. The IRS got heat in recent years for auditing people who earned under $30,000 a year. It was not fair because they were completely ignoring those who made six figures or more. As a result, the IRS is going the other way and is putting more pressure on those who make more than $1 million a year. If you are one of these earners, there is a big chance you will be audited. The possibility of being audited increases even more if you own your own business, especially if it’s a restaurant. The Feds know that many people who own restaurants keep two books – one real and one that’s a little fudged. In addition, the IRs is getting picky about the charitable donations section of your tax returns. For instance, you can only deduct charitable goods you’ve given if they are “in good condition.” The agency doesn’t define what “good condition” is, though. But, in general, if you’ve been playing it straight, you have very little to be worried about.

Unfortunately, Clark won't be able to answer any questions submitted via commenting. If you have a question, please try posting it to our message boards.

Avg. rating: N/A

What others are saying

There are no comments yet. Be the first to post one!

send to a friend  view as printer-friendly  RSS feeds
advertisement
advertisement
THIS WEEK'S POLL
advertisement