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To: Patrick Slevin who wrote (39282)4/13/1998 12:57:00 PM
From: Alan Smithee  Read Replies (1) | Respond to of 58727
 
I have a friend who has an even better way. He trades like a demon all year. His assistant files a Schedule D for him that is as thick as a phone book. I mean, not a phone book from Podunk or wherever. A phone book from Manhattan or L.A. or something.

His rationale is NOBODY wants to go through that.


Patrick, IRS Revenue Agents are like grain or other commodities. They are fungible. Where one drops off, there will be another to take his/her place. They get paid whether they audit your friend's phone-book-sized schedule D or some wage earner's 1040.

The thing that's affecting audit and collection rates right now is the IRS's sensitivity to all of the recent criticisms. They're pulling agents out of the field to handle "customer service inquiries."

Six months from now, Congress will want to know why collections are down.