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
Top 5 Must Have Social Media Apps Released in 2016

Top 5 Must Have Social Media Apps Released in 2016

Top 5 Must Have Social Media Apps Released in 2016 We’re all on it. Checking our phones for Facebook notifications, WhatsApp messages, or sending Snapchat pictures. Whatever your preferred platform may be, it’s safe to say that social media seems to take up a big part of our lives, being accessible now more than ever.…

The Brains Behind Udacity’s Self Driving Car Degree

The Brains Behind Udacity’s Self Driving Car Degree

The Brains Behind Udacity’s Self Driving Car Degree Most anyone with a degree in a technology field will tell you that it was well worth his or her time, money and effort to earn it. However, with advancements in technology moving so quickly certain degrees can be more valuable, while other degrees can become outdated…

Tax Tips for Car Collectors

3 Tax Tips for Car Collectors

3 Tax Tips for Car Collectors Have you had your eye on a special vehicle lately? Perhaps you’re in the market for a classic Ferrari or Lamborghini. Maybe you fancy the old-school classic models from the 1920s and ’30s. The fact is many of the world’s high net worth individuals enjoy collecting cars. After all,…

Why You Should Become a Philanthropist

Why You Should Become a Philanthropist Life is full of opportunities. There are opportunities to start something new, like a business or a family, as well as opportunities to make a difference. Many of the world’s wealthiest people start their road to success and wealth with the single objective of making a lot of money.…