Tax Return Penalties Oakland CA

Tax return penalties are catgorized into two prongs: the negligence prong and the diregard of the rules and regulations prong.

Local Companies

Discount Tax Corporation
(925) 962-9590
3732 Mount Diablo Blvd
Lafayette, CA

Antonini CPA's LLP
(415) 353-5680
1325 Columbus Ave
San Francisco, CA

A Ais-Advanced Imaging Services
(877) 803-2610
760 Market St
San Francisco, CA

Anderson Larry J Ea Cfp
(415) 504-1179
5010 Greary Blvvd
San Francisco, CA

ABC Income Tax Service
(415) 826-0270
3300 25th St
San Francisco, CA

Axelrod Steve
(415) 864-1828
513 Valencia St
San Francisco, CA

Bay City Tax Service
(415) 550-0861
2681 22nd St
San Francisco, CA

Baker & Heller Tax Group
(415) 771-0401
1750 Buchanan St Fl 2
San Francisco, CA

Deborah Lardie CPA
(415) 864-0770
584 Castro St., #457
San Francisco, CA

Abbott Tony Chase EA CFP
(415) 648-3649
175 Jersey St
San Francisco, CA

provided by:

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

Discount Tax Corporation

9259629590
3732 Mount Diablo Blvd
Lafayette, CA

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