Clients have some strange misconceptions about taxes, and Accounting Today asked practitioners what some of them have been this past tax season.

Morris Armstrong, an enrolled agent and registered investment advisor at Armstrong Financial Strategies, in Cheshire, Conn., cited a few: "'The rich don't pay taxes.' 'Cash is not reportable as income' and ‘IRS has bigger fish to fry.'"

Robert Seltzer, a CPA at Seltzer Business Management in Los Angeles, told Accounting Today that he's had to tell many clients, "'No, you need to pay your expected balance due by April 15. The government is not giving you an interest-free loan.'"

Office space is one issue cited by Gail Rosen, a CPA in Martinsville, N.J. "Self-employed people are often scared to take the home office deduction for fear that it will lead to an audit. In all my years practicing, I haven't seen one client audited due to deducting a legitimate home office," she said. On the other hand, she noted, "A taxpayer who is an employee and works from their home many times thinks that they are entitled to a home office deduction. Unfortunately, the tax law changed in 2018."

Larry Pon, a CPA in Redwood City, Calif, has heard some outlandish ideas from clients, noting, "A good source of bad tax advice comes from TikTok."

Taxpayers should also be aware of residency rules, said Rosen. "People believe that in the year they buy a home, they're suddenly going to get a big tax refund," she said. But states have statutory residency requirements, said Joseph Bigane, a CPA at JFB Tax Consulting in Downers Grove, Ill.

Retirees should also be aware of certain requirements, said Mary Kay Foss, a CPA in Carlsbad, Calif. Foss had a client “who didn't take a required minimum distribution (RMD) for 2023 from an inherited IRA because IRS notices gave a pass to those subject to the 10-year rule for 2023," she said. "Unfortunately, because she was less than 10 years younger than the decedent, the notice didn't apply to her. We had to apply for a penalty waiver and make sure she took the missed RMD ASAP."

Some misconceptions have to do with tax preparers' work, Accounting Today reported.

"'My other tax guy let me do it,' Armstrong said he has been told. "You better have a good cite if you want to argue a point. And, 'You ask a lot of questions!' Yes, we do."

Clients should also be cognizant of their CPAs’ time.

"Your tax preparer is not waiting around for you to get your information to him or her," said Bruce Primeau, a CPA and financial planning consultant with Avantax in Prior Lake, Minn. "If you drop your stuff off on April 14, it's not likely going to get done by the 15th."