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

Local Companies

Abbott Paul CPA
(503) 232-1717
2405 Se 11th Ave
Portland, OR

Able Business & Tax Service
(503) 460-3919
1777 Ne 39th Ave
Portland, OR

1st Choice Tax Service Incorporated
(503) 282-8222
7300 Ne Glisan St
Portland, OR

A Bankruptcy Law Solution
(503) 253-1015
7931 Ne Halsey St
Portland, OR

Anvil Tax
971-227-9052
7052 NE 9th Ave
Portland, OR

A Better Tax Service Inc
(503) 775-3300
6515 Se King Rd
Portland, OR

1040 Express Tax Service
(503) 674-0202
18210 E Burnside St
Portland, OR

Aarons Bookkeeping & Income Tax Service
(503) 654-1543
16205 Se Mcloughlin Blvd
Portland, OR

Ab & T Tax
(503) 626-8654
1225 Nw Murray Rd
Portland, OR

Accountax of Oregon Incorporated
(503) 639-3921
9755 Sw Pembrook St
Portland, OR

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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

Abbott Paul CPA

(503) 232-1717
2405 Se 11th Ave
Portland, OR