Advisers warn high-income clients of IRS audit risk

01/15/2012 | Financial-Planning.com

Advisers are telling their high-net-worth clients to be more cautious in case of an audit by the Internal Revenue Service. Some suggest that clients improve record-keeping and hire appraisers to value assets. Recent data show that the IRS is increasingly focusing audits on people with income of $1 million or more.

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