Tax season is just around the corner, and that means people will be researching the answers to their filing questions in the coming weeks. If you have any questions about your tax situation, be careful where you do your research because there are just as many tax myths circulating as there are truths. No one knows this better than the team at Osborne, Tripp & Schmidt, SC. If you need a tax attorney in Sparta, WI, you can rely on their firm to provide quality representation and up-to-date information on tax law. In the meantime, read on to learn more about the most common filing myths:

Sparta Tax Attorney Debunks Common Filing Myths 

Filing Is Voluntary

Filing your taxes is not voluntary. According to the IRS, you must file a federal income tax return if your income is above a certain level. The specific income cap depends on your age, filing status, and the type of income that you receive.

I Don’t Have to Pay Taxes If I Make My Money Online

There are very few streams of income that are not subject to federal tax. If you make your money online, you typically still need to file a federal income tax. If you are a freelancer or you own an online business, you are responsible for putting aside a portion of your income to cover your estimated quarterly tax payments.

My Accountant Is Liable for Any Filing Errors

Taxes are directly tied to the person who earned the income, not to the individual who prepared the forms. The IRS does not care if your accountant is the one responsible for any errors; if there is a mistake on your income tax return, it’s up to you to fix it. Accountants still have an obligation to provide adequate tax preparation services, though. If you feel that your accountant was negligent in preparing your return and it resulted in extensive penalties, talk to a tax attorney about your options.

My Income Is Too Low for the IRS to Audit Me

Although the IRS may be more likely to audit those who earn a significant amount of money, that does not mean they will not audit you just because you earn less.

If you fell victim to a tax myth and you find yourself in trouble with the IRS, turn to Osborne, Tripp & Schmidt, SC in Sparta, WI. Visit their website to learn more about their areas of practice, including bankruptcy and criminal law, and call (608) 269-2400 to schedule an initial consultation with a tax attorney today.