More on the list…

March 29, 2007 · 0 comments

Next on the list of positions not to take on your individual income tax return as determined by IRS:

5.  United States citizens and residents are not subject to tax on their wages or
other income derived from sources within the United States, as only foreign-
based income or income received by nonresident aliens and foreign
corporations from sources within the United States is taxable, and similar
arguments described as frivolous in Rev. Rul. 2004-30, 2004-1 C.B. 622.

Psst, remember:  This is a list of positions NOT to take!!

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