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Article: Tax experts clarify many common misunderstandings.
- Article from:
- Ventura County Star (Ventura, CA)
- Article date:
- April 3, 2005
CopyrightCOPYRIGHT 2005 Ventura County Star. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Gretchen Macchiarella
Apr. 3--Tax experts often dread giving general advice because the code is so complex it is impossible to explain.
It's no wonder then that there are so many misconceptions and misunderstandings and so much general confusion among lay people.
The IRS lists seven credits that taxpayers might be eligible for in just one document.
Here are some federal income tax steps that are most often misunderstood.