An increasing number of people are doing taxes at home using advice gained from the internet. While there are many unreliable internet sources, there are also several that we have come to collectively trust as a society. Websites ending with .gov are considered especially authoritative. However, new Internal Revenue Bulletins suggest that you should not trust everything you read online… even if the IRS writes it.
Internal Revenue Bulletins Say Not to Believe What You Find Online
Many people attempt to do their taxes themselves… and most come out fine. However, the legalities can change if you are a small business owner, a homeowner, and in a variety of situations where expert help is often needed. Many people convince themselves that they’ll be okay if they simply follow the directions on the IRS website. A recent IRS bulletin suggests that this is not the case.
If you have ever prepared your taxes using instructions found online, you may be at risk. IRS memo SBSE-04-0517-0030 says that there are good and bad sources… and that the FAQs on IRS.gov might not even be a good source.
Understanding the IRS System
If the IRS isn’t a good source of tax law, then who is? Most people who have complicated taxes require the help of a professional accountant who specializes in their field. Even the IRS is apparently incapable of distilling their laws into an easy to read and easy to follow format. While there is often money to be saved in preparing taxes for yourself, there is also money to be lost.
If you need guidance on your taxes from an IRS website, there is a good chance you also need professional help preparing them. Unfortunately, the IRS is pushing courts to refuse to accept their own website as evidence. While many who simply submit a 1040-EZ will be okay filing taxes with a paper form and a website full of conflicting instructions, the rest of us have a lot to lose.
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