IRS Instructions as Clear as Mud, Even to the IRS

Tax time is just around the corner and that means it will be time once again to comb through all the jargon that is IRS tax forms. Many taxpayers have long bemoaned tax forms and instructions as just plain confusing and in some cases, downright sinister. However, even though filing taxes on your own accord can be a risky proposition, as long as you stick to the code and follow the IRS’s instructions carefully and exactly, you should be OK, right? Well, not necessarily.

What? How could that possibly be true? The fact is tax instructions don’t actually fall under the tax law. So, in reality, you could even follow the instructions on a tax form with exactness and still end up with an error. Of course, the IRS would understand if that happened to you, right? Well, not exactly. Many taxpayers have used this argument to no avail. In most instances, the courts side with the IRS and rarely hold the agency to what is written in its forms and instructions.

That’s because, unfortunately, according to legal precedence, the only things that hold up in court as tax law are regulations, official statutes and judicial decisions. That means even if you fill out your tax forms incorrectly and it’s the IRS’s fault, you will still be held accountable for those mistakes. It doesn’t seem fair that the IRS is ultimately not responsible to write correct instructions, but nevertheless when it comes to the IRS there isn’t too much that does seem fair.

Posted in
Leaving A Medical Career to Thrive in Entrepreneurship with Frédéric Brunner, CEO & Founder of Genioo

Leaving A Medical Career to Thrive in Entrepreneurship with Frédéric Brunner, CEO & Founder of Genioo

Introduction (Frédéric Brunner, from medical career to entrepreneurship) In this interview, Alan Olsen, CPA, MBA discusses leaving his medical career to become an entrepreneur.  Mr. Brunner is the CEO & Founder of Genioo. Transcript Alan Olsen Welcome to American Dreams. My guest today is Frederick Bruner. Frederick, welcome to today’s show. Frederic Brunner Thank you pleasure…

Celebrating Women's History Month

Celebrating Women’s History Month

Written by Traci Bullock. Women’s History Month Is an annual March celebration of the accomplishments and contributions of women throughout history. Women’s History Month is observed in the United States, Canada, and other countries. The celebration originated in the United States as a week-long event in 1981. Finally, in 1987, the Women’s History annual celebration…

My Entrepreneurial Journey with AI, an Interview with V Ray, co-founder of Valex Solutions

My Entrepreneurial Journey with AI, an Interview with V Ray, co-founder of Valex Solutions

Introduction (V Ray, an entrepreneurial journey with AI) In this interview, Alan Olsen, CPA, MBA discusses an AI entrepreneurial journey with with V Ray, Ms. Ray is the co-founder of Valex Solutions Transcript (software generated): V Ray AI has the ability to take in data and make decisions that would just seem so overwhelming for human…

Empowering Leaders of Family Businesses with Lee Brower

Empowering Leaders of Family Businesses

Introduction, in this interview, Alan Olsen, CPA, MBA discusses empowering leaders of family businesses with Lee Brower, Founder, Empowered Wealth LLC. Transcript (software generated): Alan Olsen Welcome to American Dreams. My guest today is Lee Brower. Lee, welcome to today’s show.   Lee Brower Alan, I’m delighted to be here. Thank you for having me.…