Tuesday, February 2, 2010

Would You Believe?

I'm taking a tax class right now and my text book has sections called "Would You Believe?"

Well this particular fact blew my mind...

Filing fake tax returns in popular in prisons. The Treasury Inspector General estimated that prison inmates received bogus refunds of nearly $15 million in 2004. The IRS managed to stop refunds on most but not all fraudulent returns. One inmate said that he used the extra cash to buy "shoes, a color TV, a jam box, and lots of drugs." (Wall Street Journal, "Tax Report," July 6, 2005) On October 15, 2008, the president signed the inmate Fraud Prevention Act, meant to curb prison tax return abuses.



p.s. If you have any questions about tax, feel free to ask :)
I feel like a tax expert after reading this text book
I've even been giving my parents advice on how to add up those deductions

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