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PHYSICIAN, HEAL THY RETURN

November 23, 2004

Once again the IRS has felt it appropriate to issue a friendly reminder to the medical profession to comply with the tax law: a "fact sheet" on Taxes and the Medical Profession.

The fact sheet starts by reprising the sad story of Xelan, a company in hot water for involving hundreds of doctors in alleged tax scams. It also has this friendly chart showing prosecution and conviction stats for tax crimes by medical professionals, including average jail time:

And there is this friendly note: "In addition to criminal cases, IRS has thousands of taxpayers in the medical industry under audit."

This is the second "fact sheet" the IRS issued for the medical profession. As far as we know, the IRS has yet to issue fact sheets for lawyers and accountants.

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