One of the frustrating things about life is taxes. Most of us hate them, and the temptation to cheat on them can be great, particularly as our incomes rise, and government levies increase. One of the best things the typical person can do is punch in “0” on the deduction line when signing up with a new employer. Here is why.
Punching in a zero on the deduction line instructs the employer to take out no deductions when sending your tax revenue to the Federal government. Although this may seem like an unfair step that your coworkers are not doing, you will find that at the end of the tax cycle, the Federal government pays you back because they took too much revenue from your paycheck, as instructed by you. One of the nice things about punching in a “0” on your deduction form is it serves as a buffer between you and the government if they accuse you of not paying enough taxes.
You can point out to them that you gave them all your deduction that you could otherwise have claimed. The Internal Revenue Service (IRS) is then put on the defensive. It takes pain initially to forgo the deduction that all your friends and coworkers are claiming, but it ends up with you grinning at tax day while everyone else is frowning. The IRS sends you back the extra tax revenue that they claimed above the actual amount required.
Ian Andrews Tax Fraud is here to serve you and your family or organization with ways to protect you from the IRS. We know that tax fraud is a big issue today, and our goal is to make sure that you are not wrongfully accused by the Federal government of something you are not responsible for. We look forward to helping you.