Today’s Wall Street Journal features an article, “Tax Report: Tips for Dodging an Audit.” Tax audits on those filing with incomes of $200,000 and above are sharply up and likely to continue at higher rates.

The IRS is especially fond of auditing those who use Schedule C. If you have a business, you can avoid Schedule C by incorporating (call us for details).

A few other interesting facts from the article:

- Most audits now are done by mail

- Enforcement revenues dropped from 2007 to 2008

- Anyone can “tip off” the IRS that you are cheating and the agency is likely to investigate.

Related posts:

1. Diedre in the Wall Street Journal on Minors & Beneficiary Designations

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