“Uncertain Tax Position?
File Form 8275 To Avoid Penalties”
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Be careful.
If you underpay your taxes (by the greater of $5,000 or 10%), you could face having to pay a huge penalty.
I’m talking about a 20% penalty!
And this penalty must be paid in addition to the tax due, plus interest. Ouch!
How to avoid the understatement penalty.
The way out of the problem is to use Form 8275.
It’s commonly filed to disclose all types of tax positions.
How to use Form 8275 to keep you safe.
The answer to this question is complex, but I’ll explain everything in my new article.
Here’s just some of what I’ll cover.
- What you need to know about adequate disclosure
- 12 types of tax authority that can help you out
- “Carryovers,” “Carrybacks,” and “Recurring items”
- When Form 8275 is not required
- If filing Form 8275 invites an IRS audit
And much more.
If you want to take an aggressive position on your tax return, here’s how to stay out of trouble…
CLICK HERE and read my completely new article titled:
“Uncertain Tax Position?
File Form 8275 To Avoid Penalties”