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Often this results from advice given by tax return preparers who
know better. This results in an audit, and we urge such
taxpayers and their return preparers to be more circumspect. Not
only do the taxpayers end up paying interest for the current
year, they may be subject to penalties or the denial of otherwise
allowable credits in future years. See sec. 32(k).
Reviewed and adopted as the report of the Small Tax Case
Division.
Decision will be entered
for respondent.
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Last modified: May 25, 2011