- Days left

This post was written as part of a series on tax excuses that don't work.

The Fifth Amendment of the U.S. Constitution gives people the right to not incriminate themselves in criminal matters. This means they don't have to testify in criminal trials of themselves. They don't have to tell on themselves in regard to crimes that they've committed or been accused of committing.

The filing of tax returns is something completely different, however. Yes, it's possible that a tax return could later be used in a criminal tax trial against you, but that possibility is very remote. Especially if you're honest when you file and pay your taxes. So the filing of tax returns is not equivalent to self-incrimination.

It is merely the reporting of income which will be taxed by the government. You're required to report your income on tax returns, and the U.S. Constitution doesn't exempt you from that.

Tracy L. Coenen, CPA, MBA, CFE performs fraud examinations and financial investigations for her company Sequence Inc. Forensic Accounting, and is the author of Essentials of Corporate Fraud.

Increase your money and finance knowledge from home

How Financial Planners go Grocery Shopping

Learn to shop smart and save.

View Course »

Economics 101

Intro to economics. But fun.

View Course »

TurboTax Articles

Video: Tax Filing Requirements for Children

Depending on how much money they made during the year, your children may very well have to file for taxes. Learn about tax filing requirements for children with help from TurboTax in this video on tax tips.

Are Losses on a Roth IRA Tax Deductible?

When the value of your investments in a Roth IRA (Roth Individual Retirement Account) decreases, you might wonder if there is a way to write off those losses on your federal income tax return. Find out what you can and can't write off when it comes to your Roth IRA.

Add a Comment

*0 / 3000 Character Maximum