IRS advises taxpayers to be wary of misinformation

One benefit of hiring a skilled tax preparer is that people are less likely to fall for misinformation about their fiscal obligations and the tax code in general.

In fact, this problem is so common that the IRS has a document available on its Web site laying out the full range of misleading and frivolous things that people may have heard over the years.

For example, the IRS notes that anyone who has received a specific amount of income as determined under federal law must file a return and pay taxes on it. In other words, participation in the tax system is not voluntarily.

Also, taxpayers are warned that there is no authority under federal law that allows them to file a so-called "zero return" that would allow them to avoid paying their income taxes.

Other myths that have been circulated about the tax system over the years include the claim that the IRS must prepare returns for people who fail to file, and that people are not actually required to comply with an administrative summons issued by the agency.

While a significant amount of information is available on such matters from the IRS, people can also consult with their tax preparer if they have any additional questions.

Every effort has been taken to provide the most accurate and honest analysis of the tax information provided in this blog. Please use your discretion before making any decisions based on the information provided. This blog is not intended to be a substitute for seeking professional tax advice based on your individual needs.
Posted To: Tax Ranger's Blog By: Tax Ranger On: Friday, February 05, 2010
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