If You’re Going to Argue About Taxes Your Argument Better Be Good

Lets face it a lot of taxpayers make mistakes on their tax returns. It’s also true that there are plenty of other taxpayers that willfully falsify their returns in order to save on their total tax bill. Some people even go as far as to simply skip out on filing a return all together. You should already know how that sits with the IRS.

Of course, the nation’s top tax agency doesn’t take kindly to people who don’t file a tax return when they are obligated by the law to do so. What’s more, they like it even less when one of those individuals or companies decides to argue their case but doesn’t have much of an argument. Taxpayers give all kinds of reason for not filing a return, but if you plan on putting up a fight with the IRS, then you had better have a really good reason; and forget about any argument deemed frivolous. The IRS hates those.

In fact, the tax agency even has a list of such arguments and if you happen to go down that road you can expect serious consequences. That’s because the IRS has the right to add a special frivolous position penalty to your bill under Section 6702 of the tax code. As with all situations associated with the IRS, your best bet is to always just tell the whole truth and nothing but the truth. However, if you aren’t completely truthful to begin with, don’t make it worse with a frivolous argument.

Posted in
The Man That Helps People Live their Financial Dreams with Comedy - Charlie Epstein, Host of Yield of Dreams

The Man That Helps People Live their Financial Dreams with Comedy – Charlie Epstein, Host of Yield of Dreams

Introduction (yield of dreams) In this interview, Alan Olsen, CPA, MBA discusses using comedy to help people reach their financial goals with Charlie Epstein, author and principal of Epstein Financial Group, LLC and Epstein Financial Services, a Registered Investment Advisory firm. Transcript: Charlie Epstein My ministry in life is to ease people’s pain and suffering about…

Finding Infinite Freedom with Eric Francom

Finding Infinite Freedom with Eric Francom

Introduction (Eric Francom discusses finding infinite freedom) In this interview, Alan Olsen, CPA, MBA discusses teaching business success with Dr. Eric Francom. Dr. Eric Francom is an Angel Investor, wealth mentor, speaker, podcaster, and author. Transcript: Eric Francom A lot of people invest in stocks and bonds and retail products, but they don’t get into the part of…

The Man Bulks Up Owner Managers For Exits - Pete Worrell, Co-CEO & Managing Director of Bigelow LLC

The Man Bulks Up Owner Managers For Exits – Pete Worrell, Co-CEO & Managing Director of Bigelow LLC

Introduction (helping Owner Managers before an exit) In this interview, Alan Olsen, CPA, MBA discusses what owners can do pre exit with Pete Worrell.  Mr. Worrell is Co-CEO & Managing Director of Bigelow LLC. Transcript: Pete Worrell My interest was all about how, owner managers flourish and thrive. And I’ll just give you a teensy bit of…

Journey of a Tech Entrepreneur with Jack Liang, Founder of Coral Global

Journey of a Tech Entrepreneur with Jack Liang, Founder of Coral Global

Introduction (Jack Liang, tech entrepreneur journey) In this interview, Alan Olsen, CPA, MBA discusses the journey of a tech entrepreneur with Jack Liang.  Mr. Liang is the, Founder of Coral Global and a renown activist. Transcript: Jack Liang I was running ads since college and one of my ads for my restaurants have like, over 100,000…