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.
How to Stop Cyber Criminals From Stealing Your Info
How to Stop Cyber Criminals From Stealing Your Info Tax season has come and gone, and we won’t have to worry about the next one for several months. But just because you’re taking a rest from taxes, it doesn’t mean potential cyber criminals are too. Cyber criminal activity is on the rise and these scammers…
Gates Not Opposed to Wealth Tax Despite Implications
There has been much chatter lately regarding a wealth tax. At least two of the leading democratic presidential candidates have discussed it, even though most wealthy Americans would likely oppose this tax. After all, why should they be punished just because they make more money? But not all wealthy taxpayers oppose a wealth tax. In…
Positive Leadership Leads to Positive Behaviors
Positive leadership is of vital importance in any organization. However, we often focus more on the negative than the positive behaviors of others. Have you ever noticed that giving a child negative reinforcement usually results in continued negative behavior? You may get the desired result in that moment, but inevitably the child returns to the…
Mike Kwatinetz, Founding Partner at Azure Capital
Interview Transcript of Mike Kwatinetz, Founding Partner at Azure Capital: Alan Olsen: For the listeners, can you give background on your expertise and business? Mike Kwantinetz: I’m one of the weird people in the world. So I started off and have a PhD in mathematical modeling. And then I also have an MBA in finance…