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IRS Patrol: Frivolous Tax Arguments
WASHINGTON — The Internal Revenue Service released the 2010 version of its discussion and rebuttal of many of the more common frivolous arguments made by individuals and groups that oppose compliance with federal tax laws.
Anyone who contemplates arguing on legal grounds against paying their fair share of taxes should first read the 80-page document, The Truth about Frivolous Tax Arguments.
The document explains many of the common frivolous arguments made in recent years and it describes the legal responses that refute these claims. It will help taxpayers avoid wasting their time and money with frivolous arguments and incurring penalties.
Congress in 2006 increased the amount of the penalty for frivolous tax returns from $500 to $5,000. The increased penalty amount applies when a person submits a tax return or other specified submission, and any portion of the submission is based on a position the IRS identifies as frivolous.
IRS highlighted in the document about 40 new cases adjudicated in 2009. Highlights include cases involving injunctions against preparers and promoters of Form 1099-Original Issue Discount schemes and injunctions against preparers and promoters of false fuel tax credit schemes.
California February Tax News From the FTB – Includes Info on California’s New Job Tax Credit
Top 12 tax scams
It’s a new year and a good time to remind [you] about the top tax scams. / more+
Pass-through entities must timely file original tax returns claiming new jobs tax credit in order for owners to claim the credit
A new jobs tax credit of $3,000 is available to small businesses with 20 or less employees for each additional net full-time employee hired and employed in California for tax years beginning on or after January 1, 2009. The total amount of the credit that we can allocate may not exceed $400 million, and claims must be made before a statutorily provided “cut-off” filing date. / more+
Using the Annualization Method in 2009 and 2010
Estimated tax payments have undergone many changes since we started filing season one year ago. / more+
Small Business
Timing is everything
[Are you]considering making an S corporation election? Selling or exchanging 50 percent or more of the total interests in an LLC or limited partnership? / more+
Ask the Advocate
Withholding and estimate tax payment changes
This summer the California legislature again revised the estimated tax payment percentages, and also passed some clean-up legislation to clear up confusion on how wage earners with only wage withholding would meet the new estimated tax payment requirements. / more+
Inside FTB
Take a look at the changes happening here at FTB. / more+
Criminal Corner
[The FTB’s] monthly summary on bringing tax criminals to justice, and closing the tax gap one case at a time. / more+
Big Business
California code of civil procedure and foreclosures
Will you clarify how California civil procedures interact with the Internal Revenue Code (IRC)? Specifically how does California Civil Procedure Code (CCP) Sections interact with IRC Section 108, Income from Discharge Indebtedness? / more+
Stacie's Tax Stuff 