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The Risks of Being Audited

With today’s deadline for filing 2006 tax returns, this is peak season for audit anxiety. The prospect of having to document all the claims on one’s tax return is dizzying at best — and terrifying at worst. Here is the lowdown on your risk of being audited, how the process works and what you should expect [...]

Source: http://blogs.wsj.com/tax
 

Some tax deductions are aimed at individuals; many are directed to businesses. The complicated maze of tax deductions that Congress has instituted over the past 70 years has contributed to the view that the tax code in the United States needs to be completely redone in a simpler fashion.