Out of the news and into my email inbox this afternoon comes word that a Bell Buckle, TN woman and a Florida couple have been charged with preparing tax returns with phony deductions, causing unwarrented refunds to taxpayers in the millions of dollars, and thousands of dollars in fees to the alleged perpetrators. If convicted on various counts, the three could be facing five years inprisonment and fines of up to $250,000.
The IRS happen to send out list of frivolous arguments yesterday. The TaxProf Blog has a nice list of them here. Joe Kristan of Roth Tax Updates presents an interesting list of real and phony frivolous arguments here. A more complete list of frivolous arguments can be found here.
Of course, when you have to debate whether a frivolous argument is real or phony (a phony frivolous argument?!?)….
News Story: Shelbyville Times-Gazette