Tax Guru-Ker$tetter Letter

Monday, February 28, 2005

Former communist countries lead the way in adopting flat tax rates – This seems to be a healthy repudiation of the “progressive” tax rate structure that is part of Karl Marx’s Communist Manifesto. It’s too bad we can’t seem to get rid of it here in the USA.

Due Diligence Is Essential With Latest Loan Pitches – Check that fine print because a lot of dastardly lenders will sneak all kinds of expensive traps in there.

IRS Announces the 2005 Dirty Dozen Tax Scams – For the benefit of morons such as Adam, who continues to write me insisting I am wrong and Irwin Schiff is a tax genius, here is number two from the IRS’s list:

Frivolous Arguments. Promoters have been known to make the following outlandish claims: that the Sixteenth Amendment concerning congressional power to lay and collect income taxes was never ratified; that wages are not income; that filing a return and paying taxes are merely voluntary; and that being required to file Form 1040 violates the Fifth Amendment right against self-incrimination or the Fourth Amendment right to privacy. Don’t believe these or other similar claims. Such arguments are false and have been thrown out of court. While taxpayers have the right to contest their tax liabilities in court, no one has the right to disobey the law.

- posted by Kerry M. Kerstetter, MBA~CPA~ATP~ATA @ 2/28/2005 10:53:00 PM Send this post: