Most people would agree that any notice coming from the IRS is scary news. So much so, that many taxpayers cringe when receiving correspondence and leave important notices, like a CP2000 Notice of Underreported Income, unopened.
The Internal Revenue Service Data Book (Publication 55B issued March 2013) for the Fiscal Year 2012 noted that for the fiscal year the total number of returns audited exceeded 18 million.
IRS audits should be taken seriously because they often lead to additional tax years being selected for examination and other tax deductions not originally stated in the audit letter.
