I read an article recently printed in the Philadelphia Inquirer and thought everyone should know about this! I have extracted the key points for your review. Lisa

Did you know that a very selective national lottery is under way? A new IRS audit initiative is being aimed at individual taxpayers with the purpose of updating the government’s fraud-detection measures and eventually boosting the tax take. Only 13,000 taypayers nationwide will be audited in this round, but if the process is like earlier IRS random audits, it promises to be especially grueling. More taxpayers will be targeted in 2008 and beyond. “You don’t want to be one of those 13,000,” said Blank Rome lawyer Ian Comisky, a tax expert based in Philadelphia. The IRS, in previous auditing initiatives, has demanded taypayers back up every deduction, and likely will do so again, Comisky said. The IRS announced its plans for the random audits in June and began sending letters to taxpayers.

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