September 15, 2012
Reliance on tax preparation software is no defense against an IRS penalty, the Tax Court says. Although a filer used the TurboTax program to do her return, she made several mistakes, and IRS assessed a 20% penalty because the deficiency was more than $5,000. She argued that she should not be liable for the penalty because she used tax software, but the Court said no (Bartlett, TC Memo. 2012-254). The errors were caused by her faulty input, not by a mistake in the tax program. In the Court’s view, tax software is only as good as the information entered into it.
We can all get caught up in the day…meetings, calls, texts, emails and the myriad of other workday demands that pile up quickly and can create unwanted stress.
Labor Day is upon us—a popular holiday that is dedicated to the millions of women and men who keep this country going strong. For many, it also means that it’s time to break out the grill for that big end-of-summer celebration. And because most of us aren’t Grill Masters, this is a good time for a refresh on some basic grilling safety tips to keep everyone safe and the party going.
Let’s face it. Kids aren’t cheap, so you have to save money where you can. Back-to-school shopping is a good place to start because costs can add up quickly—especially if you have more than one child. Consider these tips for sending your kids back to school without breaking the bank.