Four times a year, Kiplinger Alerts members will be invited to participate in interactive business forecasting webinars. Business and financial experts will share the latest Kiplinger outlooks, in-depth analysis and practical advice, and answer your personal questions about the issues at hand. Each event will be saved as an audio-video file, viewable at your convenience in your member area online.
Here we go again? New speculation that major oil exporting countries will agree on a deal to curb production is once again giving oil traders a reason to buy. But is this latest bout of bullish optimism justified or just a rumor that’s destined to fade?
The Production Freeze: Groundhog Day for Oil Markets?
The recurring talk of a move by OPEC to reduce oil exports might remind fans of Bill Murray’s role in the 1993 film Groundhog Day, in which a disgruntled TV weatherman finds himself stuck in Punxsutawney, Pa., covering the annual ritual of learning whether the resident groundhog sees his shadow on Feb. 2. Murray’s character finds himself trapped in a surreal loop of reliving the day over and over until he finally overcomes his curmudgeonly cynicism and becomes a stand-up guy.
16 Reasons You Might Get Audited
Ever wonder why some tax returns are eyeballed by the Internal Revenue Service while most are ignored? Short on personnel and funding, the IRS audited only 0.84% of all individual tax returns in 2015. So the odds are pretty low that your return will be picked for review. And, of course, the only reason filers should worry about an audit is if they are fudging on their taxes.
That said, your chances of being audited or otherwise hearing from the IRS escalate depending upon various factors, including your income level, the types of deductions or losses claimed, the business in which you’re engaged and whether you own foreign assets. Math errors may draw IRS inquiry, but they’ll rarely lead to a full-blown exam. Although there’s no sure way to avoid an IRS audit, these 16 red flags could increase your chances of drawing unwanted attention from the IRS.