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.
John Hoffmire
Transcript of John Hoffmire: Alan Olsen: One of the areas that you’ve been involved with is impact investing, what is impact investing? John Hoffmire: Well, impact investing can be defined as a number of different ways. I’m going to define it in the broadest possible way, where investments of almost all types make an…
Add These Leadership Skills for 2021
As we begin to exit the pandemic, are you looking to grow or enhance your leadership skills this year? If so, it is vital to have a plan as no one can expect to become a better leader just by showing up every day. Here are some important things to focus on in 2021. These leadership…
Workplace Accountability in Four Steps
Have you encountered a co-worker, boss or employee, who slacks off, unloads their work onto others, or takes credit for work and ideas that are not their own? Accountability in the workplace can often seem a bit too scarce, especially when the competitive drive kicks in. Or perhaps, someone that works hard, but never seems…
What’s Love Got to do with Leadership?
What is the most important attribute of a good leader? While it is difficult to single out one overarching attribute, according to leadership author, Lolly Daskal, “The single most important factor that differentiates a good leader from a great leader is LOVE.” Truly exceptional leaders know how to lead with love. One of the main…