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Apr. 3, 2010

Frivolous Tax Claims Will Cost You

In the tax world, it doesn't get more negative than being labeled "frivolous."

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

www.woodLLP.com

Wood is a tax lawyer at Wood LLP, and often advises lawyers and litigants about tax issues.

See more...


There are plenty of negative things you can be called in the tax world, like "aggressive" or "delinquent." But one of the worst labels is "frivolous," since that label can bring big penalties. Plus, promoters who encourage others to take frivolous tax positions (this can include accountants and lawyers) face additional penalties. In extreme cases, the Internal Revenue Service can even bring criminal charges!


In general, if the IRS fi...

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