IRS Instructions as Clear as Mud, Even to the IRS
Tax time is just around the corner and that means it will be time once again to comb through all the jargon that is IRS tax forms. Many taxpayers have long bemoaned tax forms and instructions as just plain confusing and in some cases, downright sinister. However, even though filing taxes on your own accord can be a risky proposition, as long as you stick to the code and follow the IRS’s instructions carefully and exactly, you should be OK, right? Well, not necessarily.
What? How could that possibly be true? The fact is tax instructions don’t actually fall under the tax law. So, in reality, you could even follow the instructions on a tax form with exactness and still end up with an error. Of course, the IRS would understand if that happened to you, right? Well, not exactly. Many taxpayers have used this argument to no avail. In most instances, the courts side with the IRS and rarely hold the agency to what is written in its forms and instructions.
That’s because, unfortunately, according to legal precedence, the only things that hold up in court as tax law are regulations, official statutes and judicial decisions. That means even if you fill out your tax forms incorrectly and it’s the IRS’s fault, you will still be held accountable for those mistakes. It doesn’t seem fair that the IRS is ultimately not responsible to write correct instructions, but nevertheless when it comes to the IRS there isn’t too much that does seem fair.
Does The Economy Really Suffer From Those Who Skip Out on Taxes?
Does The Economy Really Suffer From Those Who Skip Out on Taxes? Have you ever considered just skipping out on your taxes? Although a lot of people would love it if there were not taxes, the fact is, some taxes are important. The tax debate will never end, especially among politicians. There will always be…
Great Places for Veggie Eaters Traveling to Europe
Great Places for Veggie Eaters Traveling to Europe Ready for your next big vacation to Europe? The sites, the sounds, the scenery, and of course, the wonderful smells from all the delicious cuisine. Food lovers enjoy partaking of all the delectable tastes that European countries have to offer. But alas, you are a vegetarian, and…
How Does Lowering Business Taxes Pay Dividends?
How Does Lowering Business Taxes Pay Dividends? Although most businesses and individuals find their tax bill to be too high, there are some that find the never-ending changes to tax laws and rules even more frustrating. Sometimes it feels that tax laws can be so complicated that all you can do is throw your hands…
Top 10 States with the Best Household Income
What are the top 10 states with the best household income? 10th California – $61,400 Although California has the highest income tax rate at 13.3% they are still ranked as number 10 on our list. California houses the US’s largest tech and entertainment industries it is also home to some of the world’s wealthiest individuals.…