Not Paying Taxes On Principle Does Not Fly

The U.S. Internal Revenue Service continues to gear up for tax season. Today they released the top four reasons that people give for not paying their taxes:

• Misinterpretation of the 9th Amendment to the U.S. Constitution regarding objections to military spending. *Erroneous claims that taxes are owed only by persons with a fiduciary relationship to the United States or the IRS.
  *A nonexistent “Mariner’s Tax Deduction” (or the like) related to invalid deductions for meals.
  *Certain instances of misuse or excessive use of the section 6421 fuels credit.

In 2006 the IRS increased the penalty to $5000 from $500 for tax returns which cite one of these reasons.

For more information check out this Web site: http://www.irs.gov/taxpros/article/0,,id=159853,00.html

While one can make a lot of jokes about tax season, it’s not funny if you have to pay a big penalty.

Published: Jan 14, 2008