Tax Return Penalties Honolulu HI - Honolulu HI, legal attorney, Honolulu HI legal help, Honolulu HI legal advice, Honolulu HI penalties, Honolulu HI negligence, Honolulu HI disregard of rules and regulations

Local Companies

808 TAX
(808) 591-8006
1311 Kapiolani Blvd
Honolulu, HI

Charito Pascual-Delgado
(808) 487-8771
98-030 Hekaha St Ste 6
Aiea, HI

H & R Block
(808) 487-4417
98-130 Kamehameha Hwy
Aiea, HI

Liberty Tax Service Omni Financial
(808) 486-0442
99-115 Aiea Heights Dr Ste 101
Aiea, HI

Michishima James K
(808) 487-9002
98-1277 Kaahumanu St Ste 106
Aiea, HI

Nosaka Sybil Ea
(808) 484-4808
98-084 Kamehameha Hwy Ste 303b
Aiea, HI

Oshiro James K
(808) 486-8100
98-200 Kamehameha Hwy Ste 402
Aiea, HI

I M S Inc
(808) 247-0676
46-001 Kamehameha Hwy Ste 301
Kaneohe, HI

Better Income Tax Service
(808) 235-4886
45-1144 Kamehameha Hwy Ste 302
Kaneohe, HI

Tax Services Of America
(808) 236-0943
45-1117 Kamehameha Hwy Ste 205
Kaneohe, HI

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This penalty is really composed of two alternative penalties. The first is the negligence prong and the second is the disregard of the rules and regulations prong.

"Negligence"
"Disregard of rules & regulations"

"Negligence"

"Negligence" includes (but is not limited to) any failure:

(1) to make a reasonable attempt to comply with the internal revenue laws;
(2) to exercise ordinary and reasonable care in preparation of a tax return; or
(3) to keep adequate books and records or to substantiate items properly.

Moreover, taking a position on your return that has a reasonable basis is not negligence. The IRS will typically find negligence if a taxpayer (1) fails to include on an income tax return income reported on an information return (such as an IRS Form 1099) or (2) fails to make a reasonable attempt to ascertain the correctness of a deduction, credit, or exclusion that would seem to a reasonable person to be "too good to be true".

"Disregard of rules & regulations"

This prong may be asserted if you carelessly, recklessly or intentionally disregard IRS rules and regulations - by taking a position on your return with little or no effort to determine whether the position is correct or knowingly taking a position that is incorrect.

Adequate disclosure on your tax return is not a defense against the negligence prong of the penalty, but may be a defense against the disregard prong. However, disclosure alone is not enough - you must show that there was a reasonable basis for the position.

Featured Local Company

808 TAX

(808) 591-8006
1311 Kapiolani Blvd
Honolulu, HI