• LinkedIn
  • YouTube
  • Twitter
  • Facebook
  • Google+

Here’s another IRS list to stay away from

Get PDF file

by on
in Small Business Tax

The IRS continues to be inundated with tax-return claims that are ill-advised or flat out bogus. The tax agency just released a list of 26 popular tax claims that it calls frivolous. (IRS Information Release 2006-45) For instance, the IRS is cautioning taxpayers to avoid: filing returns that report zero income and zero tax liability; establishing a phony home business just to deduct household costs; and assigning income to a trust that is supposedly tax-exempt. Plus, the IRS is warning taxpayers against using notorious tax-protester tactics, such as claiming that payment of taxes are voluntary or only mandatory for residents of Washington, D.C.

Related Articles...

Leave a Comment