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.
Five Mistakes You Can’t Afford to Make at Work
Have you ever made a bad mistake at work that you just couldn’t live down? No one is perfect and everybody makes mistakes. In most cases, people can overcome mistakes they make at work, but there are a few missteps that could really end up costing you. So, even though you’re not perfect make sure you do everything in your power to avoid these five critical mistakes at work.Promising too much – we all want to accomplish as much as we can and impress our bosses and coworkers. However, it’s a bad
Try These Apps to Really Save Money On Food
When was the last time you went to the grocery store or had a meal at a restaurant? Chances are it hasn’t been too long. However, the way people shop is changing. Even eating “out” and buying grocery is becoming less common all the time. Amazon is making online grocery shopping and delivery a norm instead of an outlier. Additionally, more stores and restaurants are partnering with Uber and other driving services to deliver food on demand.Best Apps for Saving MoneyFurthermore, there are literally
Maximizing the Value of your Carried Interest
After the passage of the 2017 Tax Cuts and Jobs Act (ACT), many people are wondering how to maximize the value of their carried interest. There are some changes in the ACT that might affect how you proceed when selling or transferring your carried interest to achieve long-term capital gain treatment. These rules apply…
How Californians Can Protect Their Home From Crime & Reduce Their Home Insurance Costs
How Californians Can Protect Their Home From Crime & Reduce Their Home Insurance Costs By. Cassandra June From theft, burglary, arson and vandalism, the types of property crime homeowners need to protect their homes from is a worrying list of felonies. 2016 saw property crime in California creep above 1 million instances; a scary and shocking statistic…