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

Impact’21 | Alan Benjamin, CEO and founder of GigaIO

Transcript of Alan Benjamin, GigalO CEO and Founder by Alan Olsen, Host of the American Dreams Show at Impact’21: Alan Olsen: I’m visiting here today with Alan Benjamin, he’s a CEO and founder of GigaIO. Alan Benjamin: Correct. Alan Olsen: So Alan for the listeners who tell us about inspiration behind GigaIO your business vision and where you’re…

Mike Kwatinetz, Founding Partner at Azure Capital

Azure Capital | Mike Kwatinetz

Transcript of Mike Kwatinez interview by Alan Olsen, Host of the American Dreams Show:   Alan Olsen: For the listeners, can you give background on your expertise and business?   Mike Kwatinez: I’m one of the weird people in the world. So I started off and have a PhD in mathematical modeling. And then I also…

The Promise and Peril of AI | Howard Getson

Transcript of Howard Getson interview by Alan Olsen, Host of the American Dreams Show “The Promise and Peril of AI”:   Alan Olsen: I’m visiting here today with Howard Getson. Howard, welcome! Howard Getson: Hi, Alan, how are you? Alan Olsen: Good. So Howard you’ve been a guest on the show before I wanted to get a…

Mel Sauders; MVP Kids Interview

MVP Kids: Promoting Social & Emotional Learning for Children

Transcript of Mel Sauder interview by Alan Olsen, Host of the American Dreams Show “MVP Kids: Promoting Social & Emotional Learning for Children”:   Alan: My guest today is Mel Sauder. He’s the president of MVP kids. Mel, welcome to today’s show. Mel Sauder: Thank you Alan, thank you for having me Alan: So Mel, for the listener…