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.
Six Tech Trends You Need to Know About
Six Tech Trends You Need to Know About Do you know anything about virtual reality? What about artificial intelligence or self-driving cars? Perhaps you’ve heard the term “The Internet of Things” and wondered what in the world that means. The tech world is constantly changing. We live in a world where a new technology can…
What Does It Take To Be Successful?
What Does It Take To Be Successful? What is the key to success in business? What is the key to success in life? Is there really one key to success? The answer is no. There are a lot of different keys to success in anything you do. The fact is the key to success will…
You’ve Got to Start Somewhere
You’ve Got to Start Somewhere How do you get to where you want to be? Should you plan out your course from start to finish and calculate every step of the way before you begin? Should you know exactly where your path is going to lead before you begin your journey? The answer might depend…
Time to Add These Watches to Your Collection?
Time to Add These Watches to Your Collection? Rolex, Audemars Piguet, Tag Heuer, Vacheron Constantin, and Cartier, these are just a few of the most well known high-end luxury watch brands in the world. Owning a few expensive luxury watches is common amongst most high net worth individuals, but for some collecting multiple rare and/or…