"Please explain why the Watchtower predictions should not be considered false prophecy. They have prophesied the date of armageddon many times; it did not come to pass in 1914, nor in 1925, nor 1975. Abraham, Isaac and Jacob did not return to take up residence at Beth-Sarim. According to Deuteronomy 18:"
[20] But the prophet who presumes to say something in my name which I have not commanded him to say, or who speaks in the name of other gods, that prophet must die."
Here, you're quoting from Deuteronomy 18:20. The Mosaic Law was replaced with the New Covenant.
it-1 p. 524 Covenant
New Covenant. Jehovah foretold the new covenant by the prophet Jeremiah in the seventh century B.C.E., stating that it would not be like the Law covenant, which Israel broke. (Jer 31:31-34) On the night before his death, Nisan 14, 33 C.E., when he established the celebration of the Lord’s Evening Meal, Jesus Christ announced the new covenant, to be validated by his sacrifice. (Lu 22:20) On the 50th day from his resurrection and 10 days after he had ascended to his Father, he poured out the holy spirit, which he had received from Jehovah, on his disciples gathered in an upper room in Jerusalem.—Ac 2:1-4, 17, 33; 2Co 3:6, 8, 9; Heb 2:3, 4.
You can do your own research. Under the New Covenant, no one was to die for spiritual transgressions, whether it involved masquerading as a divine prophet or practicing witchcraft.
[21] 'You may be privately wondering, "How are we to tell that a prophecy does not come from Yahweh?"
[22] When a prophet speaks in the name of Yahweh and the thing does not happen and the word is not fulfilled, then it has not been said by Yahweh. The prophet has spoken presumptuously. You have nothing to fear from him.'
And in case you should say in your heart: “How shall we know the word that Jehovah has not spoken?” when the prophet speaks in the name of Jehovah and the word does not occur or come true, that is the word that Jehovah did not speak. Deuteronomy 18:21-22
Again, this is directed at ancient Israel when God had direct dealings with his nation as a people. The Old Testament has recorded in its pages, supernatural events visible to all present at the occasion. God's channel of communication was much more explicit and direct as the Bible cannon was not completed when ancient Israel was God's chosen people.
There's nothing that should suggest that any imperfect human or group of humans in the last days should be infallible (immune from liability to error or failure) in matters of interpretation or prophecy. This is actually a position held by Christendom's Churches:
http://en.wikipedia.org/wiki/Papal_infallibility
Papal infallibility
Papal infallibility is the dogma in Roman Catholic theology that, by action of the Holy Spirit, the Pope is preserved from even the possibility of error when he solemnly declares or promulgates to the universal Church a dogmatic teaching on faith or morals as being contained in divine revelation, or at least being intimately connected to divine revelation. It is also taught that the Holy Spirit works in the body of the Church, as sensus fidelium, to ensure that dogmatic teachings proclaimed to be infallible will be received by all Catholics. This dogma, however, does not state either that the Pope cannot sin in his own personal life or that he is necessarily free of error, even when speaking in his official capacity, outside the specific contexts in which the dogma applies.