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.
Why You Should File Your 2019 Tax Returns ASAP!
Why You Should File Your 2019 Tax Returns ASAP? Many individuals, couples, and businesses are putting off filing their 2019 tax returns because; they can. Others, because they qualify for stimulus checks in 2018 but not 2019; it’s not 100% clear yet that this is a good idea. Either way, April 15th and many other…
COVID – 19 Relief Status Update 04.06.20
‘Phase 4’ stimulus wish lists floated
https://ne…
Corona Virus Relief (CARES ACT)
Today we’re talking all about the Corona Virus Re…
Economic Impact Payments: What you need to know?
No action needed by most people at this time! IR-2020-61, March 30, 2020 WASHINGTON — The Treasury Department and the Internal Revenue Service today announced that distribution of economic impact payments will begin in the next three weeks and will be distributed automatically, with no action required for most people. However, some seniors and others…