{"id":58903,"date":"2019-03-29t20:20:41","date_gmt":"2019-03-30t00:20:41","guid":{"rendered":"https:\/\/48e130086c.nxcli.net\/?p=58903"},"modified":"2019-05-02t15:07:21","modified_gmt":"2019-05-02t19:07:21","slug":"padding-your-tax-deductions-the-consequences-are-serious","status":"publish","type":"post","link":"\/\/www.g005e.com\/2019\/03\/29\/padding-your-tax-deductions-the-consequences-are-serious\/","title":{"rendered":"padding deductions? clients need to be warned"},"content":{"rendered":"

\"drawing<\/a>some critical clarifications.
\n<\/strong><\/p>\n

by barry j. friedman, cpa<\/i>
\n
industrynewsletters<\/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>alternative minimum tax: what\u2019s it like today?<\/a> | the latest rules on charitable donations<\/a> | how clients should gather their papers for taxes<\/a> | the latest fraud problem: synthetic identities<\/a> | real estate, iras & clients<\/a> | percentage-withholding for clients<\/a> | basis: turning a common client question into new business<\/a> |\u00a0 the w-4 time-bomb and what to do about it<\/a>
\n\"goprocpa.com\"exclusively for pro members. <\/span><\/strong>
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. what’s the harm in taking a little\u00a0extra here or a little extra there?
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\ntaxpayers “shouldn’t gamble with their taxes by padding their deductions,” an irs commissioner once said. 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

if your clients knowingly file incorrect tax returns, the government may apply the following civil penalties:<\/p>\n