Tax
Mar. 10, 2017
Don't inflate deductions, even when IRS audits are down
Make no mistake, the Internal Revenue Service and California's Franchise Tax Board want receipts — meaning they want you to keep them and be able to present them if the tax authorities ask. By Robert W. Wood
Robert W. Wood
Managing Partner
Wood LLP
333 Sacramento St
San Francisco , California 94111-3601
Phone: (415) 834-0113
Fax: (415) 789-4540
Email: wood@WoodLLP.com
Univ of Chicago Law School
Wood is a tax lawyer at Wood LLP, and often advises lawyers and litigants about tax issues.
Even in this information age aided by great strides in technology, we probably all have occasional difficulty finding receipts. Sometimes, we may even estimate how much cash we dropped for that airport taxi or cash tip to a maître d'. Make no mistake, the Internal Revenue Service and California's Franchise Tax Board want receipts ? meaning they want you to keep them and be able to present them if the tax authorities ask.
Ev...
For only $95 a month (the price of 2 article purchases)
Receive unlimited article access and full access to our archives,
Daily Appellate Report, award winning columns, and our
Verdicts and Settlements.
Or
$795 for an entire year!
Or access this article for $45
(Purchase provides 7-day access to this article. Printing, posting or downloading is not allowed.)
Already a subscriber?
Sign In