From USA TODAY:
In 1913, you could have carried a copy of the CCH Standard Federal Tax Reporter, an annual compilation of U.S. tax law, in your briefcase. Today, you’d need a wheelbarrow. The 2010 publication contains more than 71,600 pages and will probably grow even fatter in 2011.
As the tax system has grown increasingly complex and convoluted, myths about the tax code and the inner workings of the IRS have multiplied. Some popular misconceptions could cause you to pay more money than you owe or delay your refund. Others could trigger an audit. And some could land you in jail.
With April 15 less than two weeks away, USA TODAY asked tax professionals and the IRS to share some common tax myths and misunderstandings that trip up taxpayers. Here’s a look at some of the most popular urban legends.
Click here to read the full article.
