IRS to Launch New National Research Program Study in October

September 12, 2007 – Reminder from IRS

The Internal Revenue Service is starting a new National Research Program (NRP) reporting compliance study for individual taxpayers that will provide updated and more accurate audit selection tools and support efforts to reduce the nation’s tax gap.

This new NRP study, which begins in October 2007, will be the first of an ongoing series of annual individual studies using an innovative multi-year rolling methodology. The study will examine about 13,000 randomly selected tax year 2006 individual returns. The returns will be selected over time, not all in October 2007, allowing for returns filed on extension to be part of the sample also.

Similar sample sizes will be used in subsequent tax years. For more information on the new NRP study for individual taxpayers see
https://taxquips.com/index.php?id=422

[TaxMama Note: If you’re working on your 2006 tax return right now, take this into account. If you have unusual and outstanding activity on your tax return, be SURE to gather all the documentation. IRS is apt to randomly select you.

Remember, YOU have the “burden of proof” for anything you report on your tax return. How can you prove your position?

By keeping excellent records. IRS provides you with information on what records to keep:
https://www.irs.gov/businesses/small/article/0,,id=98575,00.html ]

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