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.
Impact’19: Michael Beaudoin II
About Michael Beaudoin II Michael invests in early stage companies, on behalf of Mark IV Capital. Previously, Michael created and operated AT&T’s Aspire Accelerator; and served as a Vice President at JPMorgan Chase and Deutsche Bank. Michael graduated with an MBA from Pepperdine and undergraduate from Ball State University. Bio Source: sched.com Interview Transcript of:…
Impact ’19: Jan Geldermacher
Jan Geldermacher is President of Sprint Business. He joined the company in August 2016 and reports to CEO Michel Combes. Transcript of Impact’19: Jan Geldermacher: Alan Olsen: I’m visiting here today with Jan Geldmacher. And Jan is currently the President of Sprint, Jan Geldmacher: Business, Alan Olsen: Sprint Business and telecommunications. And, and…
Impact ’19: Stacy Lewis Daher
Stacy Lewis Daher is an experienced financial leader with a successful track record in asset management, finance, accounting, treasury, procurement, debt issuance and management, and financial planning roles at the University of San Francisco and PricewaterhouseCoopers. Transcript for Impact ’19: Stacy Lewis Daher: Alan Olsen: I’m visiting here today with Stacy Lewis. She’s…
Impact’19: James Thayer
Transcript of Impact’19: James Thayer: Alan Olsen: Can you give a background on your career path before you came over to Clark Capital Partners? James Thayer: I started out as a as an attorney doing patent litigation. My first big case was with Blackberry, Blackberry have been sued, and there was an injunction against…