The Worst Tax Scams of 2011
This isn't really tech news but today is tax day in the US. Now while we pay taxes for just about everything we are required to file an income tax form once a year to basically "square" up what we actual owe vs what we actually paid. In most cases, if we have figured our withholdings propelry, we will be entitled to a refund. On the flip side if we don't figure the tax correctly or make a bunch of money that wasn't taxed there is a good chance we'll have to pay some extra.
The funny thing about paying income tax is that aside from the various forms proving what you paid vs what you made it is very difficut to track the various things you are allowed to claim as a tax deduction.
The IRS recently released its annual list of the worst tax scams and warned consumers to steer clear of these schemes or face significant financial penalties. The warning is particularly relevant now that we've entered the home stretch of tax season, as many consumers who have yet to file have probably put it off because they owe money.
Tax scams usually reside in the gray area of tax deductions to help reduce your taxable income. Taking advantage of these can not only land you in big trouble for the current year but can also trigger an audit which can look at past submissions as well.
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