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Nothing brings on the cold sweats like an official letter from the Government; particularly the IRS. Like being pulled over by the police while driving, thoughts of everything you have ever done (or may have done) wrong begin to flood your mind. There are two different classes of IRS Audits: Correspondence Audits & Desk Audits.
Republican candidate Mitt Romney recently bowed to pressure last week and released his 2010 tax return. What it showed is that Romney paid a little less than $3 million in taxes on $21.6 million of income. This equates to an affective tax rate of less than 14%–far below what the average taxpayer pays.
