Wednesday, April 23, 2014

IRS Releases 2014 List of Frivolous Tax Arguments

Do any of these look familiar? The U.S. Internal RevenueService (IRS) has released the 2014 version of “The Truth About Frivolous Tax Arguments,” which details and responds to some of the most common arguments from citizens who oppose federal tax laws.
 
“While taxpayers have the right to contest their tax liabilities, no one has the right to disobey the law or disregard their responsibility to pay taxes,” the agency said. “The penalty for filing a frivolous tax return is $5,000. The penalty is applied to anyone who submits a tax return or other specified submission, if any portion of the submission is based on a position the IRS identifies as frivolous.”
 
Included in the list are arguments that taxpayers can refuse to pay income taxes on religious or moral grounds and that federal employees are the only employees subject to federal income tax.
 
The IRS noted that those who promote or adopt frivolous tax positions could be responsible for one of several penalties, including:
  • Accuracy-related penalties
  • Civil fraud penalties
  • Erroneous refund claim penalties
  • Failure to file penalties
 
Taxpayers who make such arguments may also face criminal prosecution for attempting to evade tax.

Tuesday, April 15, 2014

Celebrate the End of Tax Season With One-Day-Only Deals


Tax Day is here, marking the end of tax season (or at least a milepost along the way). If you’ve got time, make sure to take advantage of some of the deals restaurants and other businesses are offering to celebrate.
  • Arby’s: Today only, get a free snack-sized order of curly fries with a coupon available at coupon.arbys.com/taxday.
  • BLT Prime, BLT Steak: Half off all alcoholic beverages.
  • Boston Market: Today only, get two Boston Market Tax Meal Chicken Deals — a half rotisserie chicken, two sides and cornbread — for $10.40. (We see what you did there.)
  • Bruegger’s Bagels: Like Bruegger’s on Facebook to get a coupon for a $10.40 Big Bagel Bundle (13 bagels and two tubs of cream cheese). The offer is valid through today.
  • California Tortilla: Today only, say “Taxes Schmaxes” when making a purchase to get free chips and queso.
  • Great American Cookie: Today only, get a free regular chocolate chip cookie.
  • Hard Rock Café: Today only, guests who perform a complete song in front of the entire restaurant will receive a free dinner entrée.
  • HydroMassage: Free mini-massages through April 18.
  • McCormick & Schmick’s: Today only, the restaurant is offering an extended happy hour in locations where state laws allow it. Hours vary by location.
  • Office Depot: Get an online coupon (PDF) for free shredding of up to five pounds of paper, good through April 29.
  • Pizza Hut: Today only, get a large pizza and one of three sides for $10.99. The offer is only valid online with the promo code TAXDAY.
  • Schlotzsky’s: Today only, buy a 32-ounce drink and a bag of chips and get a free “The Original” sandwich.
  • Sonic: Today only, drinks and slushes are available for half price.
  • White Castle: Get an online coupon for a 15 percent discount good through midnight tonight.