[Night Hides Not]

Tuco, here's a little factoid for you: most of the audits performed by the IRS in recent years are on those that claim the Earned Income Credit, especially those with self-employed income.

Why? There is rampant fraud when it comes to the EIC: non-existent dependents, and if you juggle the numbers just right, you can max out on the EIC.

These are easy pickins' for an IRS auditor, who can make his/her stats look good just by focusing on these perps.

Now, you may ask, why doesn't the IRS go after the greedy rich people? Simple: those 'greedy rich people' hire CPAs like me to make sure their taxes are done correctly, NOT to pay the least tax possible (although that is a normal by-product of my work).

These greedy rich folks know that an audit is an enormous waste of time and money, and it diverts them from the pursuits that make them wealthy.

In 20 years of doing tax returns, I've had ONE audited by the IRS (the case is ongoing), and my clients like the peace of mind they have when they see my signature on their return. With that peace of mind, they return to their more profitable pursuits.

Re: Wal-Mart and EIC; so what! They are breaking no laws, and are creating jobs throughout the world. Using your logic, we're being double-taxed for all government employees who also qualify for the EIC.

Sheesh, all we need now is for MurryMom to join the thread!

[Tuco-bad]

here's a little factoid for you: most of the audits performed by the IRS in recent years are on those that claim the Earned Income Credit, especially those with self-employed income.

Duh!!!!