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
Nzinga Blake

Social Entrepreneurship & Why It Matters | Nzinga Blake

Interview Transcript of: Social Entrepreneurship & Why It Matters | Nzinga Blake Alan Olsen: Can you share a little about your background?   Nzinga Blake: I was born in Maryland, my family is from West Africa from Sierra Leone and my mom has some roots as well in Nigeria and so I was born here in…

Mark Eaton

Mark Eaton: The Four Commitments of a Winning Team

Episode Transcript of: Mark Eaton: The Four Commitments of a Winning Team Mark Eaton: I had an opportunity to play team at the highest level in the NBA and I’ve looked at what I learned on the basketball court and figured out a way to transpose that and transfer it to the business realm and…

Rikin Gandhi

Digital Green: Transforming Ag Extensions in India | Rikin Ghandi

Interview Transcript of: Digital Green: Transforming Ag Extensions in India | Rikin Ghandi Rikin Ghandi: Growing up I was inspired by astronauts and I wanted to put together my own astronaut playbook by studying computer science, aerospace engineering, getting a pilot license and was about to enlist in the US Air Force when I said college…

Kris Nielson

The Company That Let’s You Take Back Control of Your Garage | Kris Nielson

Interview Transcript of: The Company That Let’s You Take Back Control of Your Garage | Kris Nielson Kris Nielson: I came to school at BYU-Idaho up in Rexburg Idaho. I set out to go into law but decided to change course when I took some business classes and loved organizational strategy. During college I began…