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2019 – 08/30

  • Writer: Holly Roundtree CPA
    Holly Roundtree CPA
  • Sep 9, 2019
  • 1 min read

If an individual files a “frivolous” tax return, the IRS can assess a $5,000 penalty. In one case, a taxpayer submitted a frivolous tax return, and when the IRS requested a corrected return, she submitted a photocopy of the original amended return six times. The IRS assessed seven $5,000 penalties against the taxpayer for the original return and the photocopies. The U.S. Tax Court ruled that only one penalty should apply (Kestin, 153 TC No. 2). What’s considered a frivolous return? The IRS defines it here: https://bit.ly/2Ln4K0e

 
 
 

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© 2018 by Holly C Roundtree, CPA, PLLC

Holly C Roundtree, CPA, PLLC


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