In a move sure to send a chill down the backs of many a taxpayer's spine, the Internal Revenue Service told the Wall Street Journal this week that it's about to randomly audit some 50,000 tax returns from 2001.
The reasoning behind the move is to gather updated information on compliance issues which will be used in the future to determine which returns are most likely to yield results.
But in the meantime, tax professionals are sure to be preparing their clients for the possibility that the taxman may soon want to see that receipt-filled shoebox.
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