Enough Frivolity: IRS Gets Serious
Be forewarned: The IRS wants taxpayers to stop using “frivolous” arguments to claim deductions or avoid taxable income.
For education purposes, the IRS has prepared “The Truth About Frivolous Tax Arguments.”
This document debunks several frivolous arguments used in the past. You can find it online at the IRS Web site.
What’s at stake? The penalty for submitting a tax return identified by the IRS as being frivolous was recently hiked from $500 to $5,000.