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Posted by Seth Breidbart on April 17, 2006, 10:35 pm
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> I don't want to disclose my tax-exempt interest income (none
> from private activity bonds, which might trigger AMT). I
> have no social security income. My tax is not affected by
> my tax-exempt interest income.
>
> If
> I don't disclose it on Line 8a of Form 1040, do I increase
> the likelihood of an audit?
>
> I can't see why the IRS would want to audit me for that
> reason alone --- they would not collect a tax deficiency
> from me.
>
> Moderator:
> U.S. citizens amd some other individuals are required to
> pay U.S. Federal Income taxes on all of their income. That
> means "If you are meet the requirements for filing a U.S.
> tax return, you must disclose all of your income. To do
> otherwise is tax evasion.
Even when he's "evading" exactly $0.00 in taxes?
> For many years I had between $1,500 and $10,000 in income
> that was not reported to the IRS by the people who paid
> me. I reported every penny of it and took every penny of
> expenses that was related to that income. God bless
> Section 179.
But that was taxable income, right?
> When you play the audit lottery, winners live in fear and
> losers learn what hell is like.
Hell is paying 100% penalty on $0.00 of taxes?
Seth
--
And they won't stop billing you until you send them a check
for $0.00 either.
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