Taxpayer used TurboTax to prepare his return. He claimed interest on a large business-related loan that was secured by his home. He also made a verbal agreement to his ex-wife to increase her spousal support payments by $3,000, and then claimed an alimony deduction for the higher amount. The IRS disputed these deductions and assessed penalties. Taxpayer then attempted to claim that TurboTax lured him into claiming the deductions. The IRS, and the Tax Court disagreed, and the tax payer had to pay penalties on his improperly filed return.
The more complex your return, the more difficult it is to ensure it is prepared properly. Let our professionals help ensure you get all your deductions without claiming more than you are allowed. Don’t prepare it yourself; bring it to us!
The more complex your return, the more difficult it is to ensure it is prepared properly. Let our professionals help ensure you get all your deductions without claiming more than you are allowed. Don’t prepare it yourself; bring it to us!
RSS Feed