Non-existent “Mariner’s Tax Deduction” being targeted by IRS in 2008
April 02, 08 by TheFleetIf you're new here, you may want to subscribe to our RSS feed. Thanks for visiting!
Source: AMO
The Internal Revenue Service has identified the so called “mariner’s tax deduction” as a frivolous tax argument. Using a frivolous tax argument to avoid paying taxes can result in a $5,000 penalty.
The IRS identified four new frivolous claims in Notice IR-2008-8. Among them was: A nonexistent “mariner’s tax deduction” (or the like) related to invalid deductions for meals.
Taxpayers who file a tax return or make a submission based on a position listed in this notice are subject to a $5,000 penalty, the IRS stated.
For more information about what is and is not eligible to claim on your tax returns, please consult your qualified tax professional or the IRS.
