DIY Disasters

/Tag:DIY Disasters

DIY Disasters: College Kids, Their Parents and the American Opportunity Credit

By | February 1st, 2017|Categories: Potpourri of Tax Topics|Tags: , , |

What to do when your college-aged child files a tax return and claims tuition credits you were entitled to on your own return.

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Letting My Hair Grow Back: DIY is Not Always Better

By | October 1st, 2014|Categories: Editorial Commentary, Potpourri of Tax Topics|Tags: , , |

DIY is not always better or cheaper, as I learned from my experiment with a shaved head.

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Rare “Turbo Tax Defense” Win in Tax Court

By | November 29th, 2011|Categories: Potpourri of Tax Topics|Tags: , |

The "It's Turbo Tax's Fault!" defense rarely works, but it did work for one lucky taxpayer in Tax Court last week.

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California Man in Trouble After Tax Refund Posted to Him in Error

By | June 20th, 2011|Categories: Potpourri of Tax Topics|Tags: , |

A California man faces theft charges for allegedly spending a $110,000 tax refund that was posted to his account in error.  The mixup happened when the woman who was actually owed the refund provided the IRS with an old bank account number for an account she had closed in 2004.  The account number had since been [...]

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Does 5th Amendment Protect You During an Audit?

By | February 18th, 2011|Categories: Small Businesses Taxes|Tags: , , |

If you're ever audited by the IRS, don't rely on your 5th Amendment privilage against self-incrimination to protect you.  A self-employed architectural consultant tried using the 5th Amendment as a defense but got shot down in Tax Court last week. The consultant, a Mr. Raeber, was audited by the IRS for his Schedule C deductions in [...]