Meanwhile, as part of the IRS new "high net worth" audit program, tax pros say examiners are scrutinizing the affairs of multimillionaires including their IRAs.
The basic $34.95 membership buys a member $1,000 worth of audit insurance for the year.
On June 24th PricewaterhouseCoopers (PWC), an accounting firm, said it had withdrawn a decade's worth of audit reports for Yukos, thus bolstering the case against a company that the Kremlin would like to portray as Russia's Enron.
It paid $300 million in dividends for 2000, after years of paying little or nothing, and released three years' worth of financial results audited to international accounting standards.
They reported deriving a sense of competency, of being 'good at what they do', from passing audits, although it is worth noting that the SPA call-handlers did not have target rates for dispositions, a particularly unpopular aspect of auditing in 999.
Of broader, and perhaps more pressing, concern is the much larger IRS initiative, of which the GHWI is a part, to audit high-net worth or high-wealth individuals.
To prepare for this latest assignment, Franco plans to audit three years' worth of courses in two weeks at the Columbia School of Journalism, in-between updating an article about anti-retroviral treatment for children with peripartum neviparine exposure for The New England Journal of Medicine and filming a recurring role as Betty White's love interest on the sitcom Hot in Cleveland.
But the impact of the IRS' overall effort to audit high-net-worth or high-wealth individuals is clear: The likelihood of an audit for this group of individual taxpayers is on the rise.
