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

Local Companies

CSSI - Cost Segregation Services Inc.
414-588-7577
8012 S. 77th Street
Franklin, WI

H & R Block
(414) 384-4588
3355 S 27th St
Milwaukee, WI

Bischoff Kurt Tax & Accounting
(414) 357-7440
6051 W Brown Deer Rd Ste 202
Milwaukee, WI

H & R Block
(414) 384-7906
425 W National Ave
Milwaukee, WI

H & R Block
(414) 384-4588
3355 S 27th St
Milwaukee, WI

Instant Tax Service
(414) 445-1040
5312 W Burleigh St
Milwaukee, WI

Tax People USA
(414) 771-5060
10025 W Greenfield Ave
Milwaukee, WI

Allis Tax Service
(414) 778-0755
9613 W Lincoln Ave
Milwaukee, WI

H & R Block
(414) 578-9461
8333 W Appleton Ave
Milwaukee, WI

A M Accounting & Tax Services Llc
(414) 529-2827
4633 S 108th St
Milwaukee, WI

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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

CSSI - Cost Segregation Services Inc.

414-588-7577
8012 S. 77th Street
Franklin, WI