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.
Gemstone as Investments?
Gemstone as Investments? For the past several days, Marc Anthony has been given the highest level of stately treatment as he sits in the court of Cleopatra, the last queen of Egypt. Despite the grandeur of the banquets, Cleopatra has shown nothing but disdain. She is quick to disregard the roasting of the eight wild…
The Personal Rewards of Philanthropy
The personal rewards of philanthropy can be enjoyed by anyone. The best part of philanthropy is how it appeals to our finer feelings. Watching the joy our gifts of means and time brings to others deposits a feeling of euphoria in the heart that feels unlike anything else. The following story told by theologian Gordon…
Dreams Should Not Have Limits
I believe that dreams should not have limits. Basic Dreams Family, education, career, prosperity and back to the family; when we determine the cornerstones of our lives, we don’t choose randomly; rather we begin with a clear vision of how we want our lives to be. When we are young, we dream of the impossible,…
Strengthen Your Estate Plan by Strengthening Your Marriage
Strengthen your estate plan by strengthening your marriage. Rarely would one go into marriage planning to get a divorce, however right now that’s how almost half of all marriages end. It doesn’t matter if one or both parties are starving students or one or both receive extensive support from their respective wealthy family offices, the…