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WHAT IS IT ABOUT DOCTORS?

May 14, 2003

The medical profession today earned the distinction of earning its own "Fact Sheet." The document, FS-2003-12, is headlined "The Medical Profession and Tax Schemes."

As the IRS gently put it,

Scam artists and scheme promoters often prey on busy professionals who don't have a lot of time to focus on their finances. As a result, the IRS has seen an increase in tax fraud in the professional community, including individuals in the healthcare/medical profession.

The IRS shows it cares with statistics of the number of criminal investigations in the last fiscal year and in the 6-month period ending March 31, 2003. In the latest six-month period 18 medical professionals have been convicted of tax crimes; the IRS helpfully adds that the "incarceration rate" for the convictions is 76.5%.

Why doctors? Perhaps this got their attention. Or maybe this. Or this.

It's a good thing we can still count on lawyers and accountants to maintain impeccable ethical standards.

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