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Hopefully the title of this article, and the information within it won't leave you with a hollow feeling in your stomach. But, be advised, the IRS will be calling many more taxpayers as part of a new initiative. In June, the IRS announced plans to launch a new National Research Program (NRP) which will conduct a compliance study for individual taxpayers. The program will provide updated and more accurate audit selection tools and aid the government in reducing the nation's tax gap. This promises to be the first of many in coming years. Read on for more details. 
If you plan to run your small business out of your home you may be tempted to "write-off" many of your household expenses. But how do you know what is deductible and what is not? The IRS has some advice that may help answer the question: "Can I take a Home Office Deduction?" Read on for the full IRS article. 
Some tax deductions are not mentioned by name on a tax form but can still be quite valuable to a taxpayer. If you own a trade or business, you can deduct a number of expenses under the broad category of "other." What deductions fall into this category? Good question! Read on for the full article.
How you could be affected by tax preparer penalties.
