{"id":56584,"date":"2018-12-20t14:00:48","date_gmt":"2018-12-20t19:00:48","guid":{"rendered":"https:\/\/48e130086c.nxcli.net\/?p=56584"},"modified":"2018-12-21t18:54:00","modified_gmt":"2018-12-21t23:54:00","slug":"why-padding-tax-deductions-is-a-risky-proposition","status":"publish","type":"post","link":"\/\/www.g005e.com\/2018\/12\/20\/why-padding-tax-deductions-is-a-risky-proposition\/","title":{"rendered":"why padding tax deductions is a risky proposition"},"content":{"rendered":"

\"\"some client education may be in order.
\n<\/strong><\/p>\n

by barry j. friedman, cpa<\/i>
\nindustrynewsletters<\/i><\/a><\/p>\n

“in this world, nothing can be said to be certain, except death and taxes” is a quote often attributed to benjamin franklin. with that in mind, it’s best to be prepared, at least financially, for taxes and tax season each year.<\/p>\n

more: <\/b><\/strong>yes, home equity loans may still be deductible<\/a> | how to challenge property taxes<\/a> | real estate, iras & clients<\/a> | percentage-withholding for clients<\/a> | bitcoin: what clients need to know <\/a>| supreme court wayfair ruling sows confusion \u2013 and opportunity<\/a>
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log in here<\/a> or 2022世界杯足球排名 today<\/a>.<\/span><\/p><\/blockquote>\n

the risks<\/strong><\/p>\n

when it comes to deductions, things can get a little sticky. some clients may wonder what the harm is in taking a little extra here or a little extra there.
\n
\ntaxpayers “shouldn’t gamble with their taxes by padding their deductions,” said irs commissioner john koskinen. overstating charitable contributions, padding business expenses and falsely claiming earned income or child tax credits are common ways unscrupulous taxpayers try to cheat the irs. but the organization is wise to these gambits and is catching cheaters with its efficient automated systems.<\/p>\n

the penalties<\/strong><\/p>\n

for anyone who knowingly files incorrect tax returns, the government may apply the following civil penalties:<\/p>\n