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Author: catscanner Big red star, 1000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121341  
Subject: Re: audits - a slightly off-topic rant Date: 11/8/2002 12:06 AM
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Audits, taxes, filing........

If you qualify, take it.

If you can't support it, don't.

The name of the game, and it really is a game, is to learn all that they (the IRS) knows about whatever taxable/deduction situation you are in and then follow those rules.

If there is any ambiguity in your understanding, clarify it. If you think they will disallow it, clarify your understanding until you know they will disallow it, otherwise, tax the deduction and file.

When it gets to be too complicated, pay somebody to know. But, remember, you still are the one signing the return so you should understand as much as possible about any areas you feel are unclear.

Then again, considering that the IRS has stated they are loosing the battle against audits of offshore accounts, among other things, I woouldn't worry too much.

Just document your filing, even copying the appropriate tax codes, and keep it. Then, if you get audited, show it to them. Who knows, you may even get more money back if you misunderstood the code.

cat
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