4 things you should know about tax audits
By Richard Barrington
The words "IRS audit" are enough to send a chill down the spine of even the most conscientious taxpayer. They evoke Kafka-esque images of a relentless bureaucratic inquisition, but are they really as bad as all that?
Since most people have never been through an IRS audit (after all, only about 1 percent of all individual returns are audited), much of the fear of a federal income tax audit is simply fear of the unknown. To ease that fear by removing some of the unknown, here are answers to four fundamental questions about tax audits: