Monday, April 20, 2009

IRS Refund and Tax Rebates

Each year when we complete our tax return we often hope that the IRS will work with our form and discover that we have over paid and are due an IRS refund. Many people eagerly anticipate their IRS refund as it is enough for them to pay of a credit card bill or other debt. Others buy something such as furniture or they take a vacation with their refund. It really depends on how much money you end up getting back.

It is very important to be honest when it comes to filing your taxes, althought the temptation may be large to adjust small items on your form. It really is not worth the trouble and trauma of an audit. You may want to be able to get a huge chunk of money back but if you are found to have incorrectly submitted your return you will be paying back that refund plus interest. In addition the IRS can tack on huge penalties and you can even be facing jail time if they can show you outright lied on your taxes in order to get more money out of them.

For more on this business blog or IRS Refund and tax rebates