Wednesday, April 16, 2008

April 15th............Sound The War Drum...............

Happy Tax Day -- IRS Going After the Little Guys
JBSWednesday, April 16, 2008
According to the Transactional Records Access Clearinghouse (TRAC), a research group based at Syracuse University, individuals now have a 10 percent chance of being audited by the IRS, more than double what it was in 2000. Major corporations with assets of at least $250 billion now have a one in four chance of being audited, down from three in four in 1990.
While audits of major corporations typically bring in big money — $59 billion in unpaid corporate tax revenues were recovered last year alone — the IRS is choosing to change their focus, concentrating on making individuals tow the line. Individuals and small companies require less time and money to investigate, but surely that can’t be the real reason for the shift in auditing targets.
The IRS says TRAC is "misinterpreting" the data that was released from government agencies under the Freedom of Information Act, and totally contradicts the IRS official line and even its marketing ads.
To most, however, it would appear that the new trend is a continuation of the federal government's policy of more intrusive and intensive tracking and monitoring of the citizenry.

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