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
Groco How to Travel the World in Retirement

How to Travel the World in Retirement

How to Travel the World in Retirement Retirement: that long-pursued time in life where you get to leave the workday behind and enjoy the fruits of your many years of labor, for much longer than two or three weeks a year. Most people look forward to retirement and all the free time they have to…

Tax Tip That Could Save You Big in 2017

Tax Tip That Could Save You Big in 2017 Just about everyone enjoys finding new ways to save on taxes. Even though the tax season is winding down for many, that doesn’t mean you should put taxes completely out of mind. In fact, making important tax decisions right now can pay huge dividends later on…

most expensive places to live in the world

Most Expensive Places to Live in the World

Where are the most expensive places to live in the world? There are a lot of expensive places to call home throughout the world. If you live in the United States perhaps you feel that your home state or city is one of the worst places to reside when it comes to expenses. For example,…

jet craft

Could This Be the Jet Craft of the Future?

Jet Craft of the Future There’s no question that advances in the travel industry have played a huge role in how the business world operates. As technology has developed and moved, especially in the aircraft industry the ability and ease to conduct global business has been greatly enhanced. While aircraft technology continues to move forward…