Internal Revenue Service (IRS) has rejected some of the popular myths relating to filing tax returns that many people firmly believe to be true.

Voluntary Nature of Tax System

A common misconception is that the taxpayer has an option of paying or not paying the tax. This is because tax system is considered voluntary and the instructions in Form 1040 clearly state tax system to be voluntary. Even the Supreme Court has stated that the tax system of the United States is based on voluntary assessment and payment. [Read more…]