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 if your return is singled out for inspection. For starters, relax. Most individual returns are unlikely to get audited, and a sit-down audit is rare.
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