May 25, 2008

Taxes: Your Odds for an Audit

If you've already filed your taxes this year, and are now relaxing for another year, don't get too comfortable just yet. Seems the IRS is now auditing more taxes than ever, and the number is only expected to get larger in the future.

Being rich has some fairly obvious advantages. But there are also drawbacks. For example, this time of year when a big income may mean bigger odds of an audit.

Money Editor Stacy Johnson takes a look at your odds of an audit in this short video. (Clip runs 1:16)

Do you worry about an audit on your taxes? Do you use an accountant thinking that might save you from getting that dreaded audit letter? We'd love to hear your opinion on this. Use the comment link below to tell us what you think.

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