voluntary tax system

The final, drop-dead tax deadline is quickly approaching. S Corporations have their final returns due on September 15th, and personal tax returns are due October 15th (assuming both filed their 6-month extensions on time back in March and April, respectively.

Of course, the subject of paying taxes is always an emotional one for many people. Around this time of year we start seeing arguments that taxes are illegal, unconstitutional and voluntary. Just in case you’re curious, here’s the IRS position on that argument … along with some of the penalties they can choose from.