Comments on: How to Prevent or Avoid IRS Penalties this Tax Season http://moneyning.com/tax/how-to-prevent-or-avoid-irs-penalties-this-tax-season/ A personal finance blog where we share insights on carefully saving money, investing, frugal living, coupons, promo codes because the little things matter in achieving financial freedom! Sat, 11 Feb 2012 19:58:22 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: chicagoroots http://moneyning.com/tax/how-to-prevent-or-avoid-irs-penalties-this-tax-season/comment-page-1/#comment-38088 chicagoroots Tue, 25 Jan 2011 07:06:26 +0000 http://moneyning.com/?p=4521#comment-38088 If my home is in foreclosure, shouold I notify the IRS as I am also being audited? If my home is in foreclosure, shouold I notify the IRS as I am also being audited?

]]> By: Financial Samurai http://moneyning.com/tax/how-to-prevent-or-avoid-irs-penalties-this-tax-season/comment-page-1/#comment-23990 Financial Samurai Sun, 14 Feb 2010 06:36:01 +0000 http://moneyning.com/?p=4521#comment-23990 Gosh, I hate taxes. This post reminds me about how horrible our tax system is. Gosh, I hate taxes. This post reminds me about how horrible our tax system is.

]]> By: Wes Masters http://moneyning.com/tax/how-to-prevent-or-avoid-irs-penalties-this-tax-season/comment-page-1/#comment-23838 Wes Masters Mon, 08 Feb 2010 15:38:44 +0000 http://moneyning.com/?p=4521#comment-23838 One other thing to add regarding extensions - your best bet is to file one online with an authorized e-file provider. That way you are guaranteed to get a response from the IRS. Sending form 4868 thru the mail isn't a good idea b/c the IRS will never acknowledge they received your request. That means you could be accumulating late fees without knowing it. One other thing to add regarding extensions – your best bet is to file one online with an authorized e-file provider. That way you are guaranteed to get a response from the IRS. Sending form 4868 thru the mail isn’t a good idea b/c the IRS will never acknowledge they received your request. That means you could be accumulating late fees without knowing it.

]]> By: Jeff http://moneyning.com/tax/how-to-prevent-or-avoid-irs-penalties-this-tax-season/comment-page-1/#comment-23832 Jeff Mon, 08 Feb 2010 14:33:32 +0000 http://moneyning.com/?p=4521#comment-23832 Personally, I believe that if it wasn't important enough to enforce or catch on a "good" year then it shouldn't be enforced on a "bad" year because the government entity (from the Feds on down) needs the cash. Locally: Uncovered loads to the dump fee enforced, for the first time since it was put on the books 5 years ago. More speeding tickets. "Better" enforcement of ordinances, permit laws, etc. IRS is less forgiving. Of course they are under pressure to generate more cash, just like cops are under more pressure to generate higher quotas. I'm not blaming the individuals that are issuing the citations, etc. (except for the "supercops") but really, why have a law on the books if it's just there to generate income for the state in bad times and never enforced in other times? Personally, I believe that if it wasn’t important enough to enforce or catch on a “good” year then it shouldn’t be enforced on a “bad” year because the government entity (from the Feds on down) needs the cash.

Locally: Uncovered loads to the dump fee enforced, for the first time since it was put on the books 5 years ago.
More speeding tickets.
“Better” enforcement of ordinances, permit laws, etc.

IRS is less forgiving. Of course they are under pressure to generate more cash, just like cops are under more pressure to generate higher quotas.

I’m not blaming the individuals that are issuing the citations, etc. (except for the “supercops”) but really, why have a law on the books if it’s just there to generate income for the state in bad times and never enforced in other times?

]]> By: Manny Davis http://moneyning.com/tax/how-to-prevent-or-avoid-irs-penalties-this-tax-season/comment-page-1/#comment-23824 Manny Davis Mon, 08 Feb 2010 04:41:32 +0000 http://moneyning.com/?p=4521#comment-23824 I am sorry if this post offended anyone. I was not insinuating that the"IRS is looking for ways to generate money above and beyond what is lawfully due and owed." David is right. My point was that during these tough times the IRS is less inclined to make exceptions for individuals who make mistakes. Also, regarding your point as to induce fear so that I can somehow gain is misguided. My company specifically focuses on individuals who run into major problems with the IRS. Therefore, if I am giving advice to help individuals avoid major problems or penalties, I am not to gain. I am sorry if this post offended anyone. I was not insinuating that the”IRS is looking for ways to generate money above and beyond what is lawfully due and owed.” David is right. My point was that during these tough times the IRS is less inclined to make exceptions for individuals who make mistakes.

Also, regarding your point as to induce fear so that I can somehow gain is misguided. My company specifically focuses on individuals who run into major problems with the IRS. Therefore, if I am giving advice to help individuals avoid major problems or penalties, I am not to gain.

]]> By: Sandy http://moneyning.com/tax/how-to-prevent-or-avoid-irs-penalties-this-tax-season/comment-page-1/#comment-23819 Sandy Mon, 08 Feb 2010 01:22:53 +0000 http://moneyning.com/?p=4521#comment-23819 Sorry that I offended you. I just mean that it's human nature, as David said. It's like the times when my company is in trouble, we work harder to make sure there are less mistakes. In the case of the IRS, when the government needs more money, I'm sure the auditors are more detailed in their search to find more mistakes that people make. Sorry that I offended you.

I just mean that it’s human nature, as David said. It’s like the times when my company is in trouble, we work harder to make sure there are less mistakes.

In the case of the IRS, when the government needs more money, I’m sure the auditors are more detailed in their search to find more mistakes that people make.

]]> By: MoneyNing http://moneyning.com/tax/how-to-prevent-or-avoid-irs-penalties-this-tax-season/comment-page-1/#comment-23818 MoneyNing Mon, 08 Feb 2010 01:05:14 +0000 http://moneyning.com/?p=4521#comment-23818 I think Sandy is just saying that it's less likely that IRS employees would let you go if you did something wrong. It's like a cop more likely to issue a ticket instead of telling you not to do it again and let you go if he just got out of the police station with the chief giving a speech about the need for more funding in their district. In the same way, the guest author is more inclined to talk about problems you can encounter with filing taxes rather than how easy it is to file online by yourself. It's just human nature and I don't think this natural trait is extreme enough to cross the line of "integrity". I think Sandy is just saying that it’s less likely that IRS employees would let you go if you did something wrong. It’s like a cop more likely to issue a ticket instead of telling you not to do it again and let you go if he just got out of the police station with the chief giving a speech about the need for more funding in their district.

In the same way, the guest author is more inclined to talk about problems you can encounter with filing taxes rather than how easy it is to file online by yourself. It’s just human nature and I don’t think this natural trait is extreme enough to cross the line of “integrity”.

]]> By: john http://moneyning.com/tax/how-to-prevent-or-avoid-irs-penalties-this-tax-season/comment-page-1/#comment-23817 john Sun, 07 Feb 2010 23:51:54 +0000 http://moneyning.com/?p=4521#comment-23817 Also if you think the irs is not going to audit more this year with more personnel then I do not know what to tell you. Also if you think the irs is not going to audit more this year with more personnel then I do not know what to tell you.

]]> By: john http://moneyning.com/tax/how-to-prevent-or-avoid-irs-penalties-this-tax-season/comment-page-1/#comment-23816 john Sun, 07 Feb 2010 23:31:57 +0000 http://moneyning.com/?p=4521#comment-23816 Stop assuming things. The author is stating facts. The irs has more personnel and money with increased funding that I think his main point is do not try to game the system because federal government needs money. He is not questioning the integrity of employees from what I read he is giving advice to avoid penalties. Stop assuming things. The author is stating facts. The irs has more personnel and money with increased funding that I think his main point is do not try to game the system because federal government needs money. He is not questioning the integrity of employees from what I read he is giving advice to avoid penalties.

]]> By: Imani http://moneyning.com/tax/how-to-prevent-or-avoid-irs-penalties-this-tax-season/comment-page-1/#comment-23813 Imani Sun, 07 Feb 2010 21:31:51 +0000 http://moneyning.com/?p=4521#comment-23813 Curious to know what makes you think so. Basically, that seems to call into question the integrity of IRS employees. So when can we depend on impartial, and fair application of the law? In "good years"? When are the good years? The implication re the IRS is disturbing. I wonder how they would respond. Curious to know what makes you think so. Basically, that seems to call into question the integrity of IRS employees. So when can we depend on impartial, and fair application of the law? In “good years”? When are the good years? The implication re the IRS is disturbing. I wonder how they would respond.

]]>