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

A Guide to Family Business Decision Making

The topic of group decision making has spawned many academic studies, books, and white papers.  It is never easy to get a group of human beings to make a decision together; it’s hard enough for a single individual to make a decision!  Add to the mix more people with their cultural differences, values, needs, desires,…

State of Real Estate in The SF Bay Area: A Moment with Nancie Allen, Broker at Masterkey Real Estate Advantage

Transcript of Nancie Allen interview, “State of Real Estate in The SF Bay Area”: Alan Olsen: Can you walk us though your career path?   Nancie Allen: I’m a born and bred Fremont resident. I moved here when I was 2 and I went to the public schools here. I still live about a mile…

Miko Matsumura

Where the Future of Cryptocurrency is Headed? Miko Matsumura, Co-founder of Evercoin

Transcript: Alan Olsen: So Miko you are a cereal entrepreneur founder of crypto currency company; you have done a lot in your life but for the listeners, can you bring us a history of your timeline of what brought you up to where you are to day and what brought you to the crypto currency…

Vic Merjanian

The Next Gen 911 | Vic A. Merjanian

Interview Transcript of: The Next Gen 911 | Vic A. Merjanian Alan Olsen: Can you share a little about your background with us?   Vic A. Merjanian: Many years ago I was at UCSD as an undergrad and I found myself in situations with friends with family and we needed help. But there wasn’t really an…