One of the perks of working at H&R Block is that you get to become much more fully acquainted with the tax laws. In that vein, I was reading some IRS materials earlier this week. And these three quotations really 'stuck out' to me.
From Publication 525 (2007), Taxable and Nontaxable Income:
"Bribes. If you receive a bribe, include it in your income." (p. 28)There are those who believe that paying federal taxes is "voluntary" or that they have some other "legal" method for avoiding the payment of taxes to the United States government. The IRS has prepared a document that responds to some of these contentions (you can find it here). Oddly enough, it contains this quote concerning those who would claim deductions and credits to which they are not entitled:
"Kickbacks. You must include kickbacks, side commissions, push money, or similar payments you receive in your income on Form 1040, line 21, or on Schedule C or C-EZ (Form 1040) if from your self-employment activity." (p. 31)
"It is a well-settled principle of law that deductions and credits are a matter of legislative grace." (p. 36)There is an awful lot of profundity in that sentence...even if you are not familiar with taxes.
IRS forms and documents are found at www.irs.gov.
No comments:
Post a Comment