Monday, January 12, 2009

More Audits Likely

Santa Rosa Press Democrat reports that with the increase in the estate-tax exemption raising to $3.5 million this year, there will be fewer returns, but there more likely will be more audits and that the IRS has hired more estate and gift-tax auditors.

More audits will take place, in part at least, because of lost revenue due to the increase in exemption.

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