Ticker, February 26

The Rocky

Published February 26, 2008 at 12:05 a.m.

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YOUTUBE GOES DOWN

Google Inc. said its YouTube video site was down worldwide for about two hours Monday because of a network problem in Pakistan.

EBAY REBELLION

The biggest boycott by eBay sellers concluded Monday, capping a week of acrimony after the online-auction site raised fees and changed its feedback policy.

Auction listings on eBay.com dropped some 13 percent since the strike started Feb. 18 to about 13 million items, according to third-party tracking sites such as dealscart.com and medved.net.

WAL-MART GIVING

8% is how much Wal-Mart Stores Inc. increased its U.S. charitable giving, which brings it up to $296.2 million, slower than its overall profit growth for the year and below the increase in 2006.

CLOSE TO THE VEST

If you're audited by the IRS, there's a golden rule to follow: Never offer more information - spoken or written - than is necessary. Don't give the auditor any reason to expand the scope of the audit. Here are seven important tips to consider:

* 1. Don't ignore the notice.

* 2. Organize your records. Making the auditor's job easier may help the process go more quickly.

* 3. Replace missing records.

* 4. Bring only what you're asked for. Additional records and items not requested in the original audit notice should be left at home.

* 5. Stay on point. Answer as many questions as possible with a simple "yes" or "no" response.

* 6. Provide only copies of records. The IRS isn't responsible for lost documents.

* 7. Know your rights as a taxpayer.

Source: J.K. Lasser

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