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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: Fundamentls who wrote (54372)	4/8/2000 10:18:00 AM
From: Montecristo No.2	Read Replies (1) \| Respond to of 122087

I have been audited, and believe me it's extorsion plain and simple. Even though we contested all items with the proper documentation, it became a situation where a settlement was more cost efficient than to continue battling it out. The agent can ignore whatever documents the taxpayer may produce to support deductions, and offer a settlement, which I believe to be calculated from the outset. If you don't accept, the return is transferred to a supervisor who does not have to limit him/herself to the open items, but in fact may choose to go through the entire return once again. You may take the issue all the way to tax court but, depending on the situation, once you factor in your time plus accounting and attorneys' fees, a settlement although ethically wrong, may make sense. From our experience, I got the distinct impression that the approximate amount of our settlement was pre-calculated. As a taxpayer, one walks away with the feeling that you have been wronged and illegally forced to pay more than your fair share. As a result, we have extremely negative views of the IRS, our tax system, and free spending government. Some of you may disagree....until you are audited yourselves!