Character & Fitness... Forum

[CyLaw]

Just did my first amended return this year, for last year. I forgot about the educational credits for the Midwestern Disaster Relief area. I redid them at the beginning of this year and just got back a check for ~$2000.

[apper123]

Nobody will care if it's an honest oversight.

I pretty much do amended returns for a living...once you start seeing dozens of people with many millions in back taxes for overseas income they've miraculously just remembered getting a bill from the IRS with no further questions asked, seeing people freak out with something like:

OMG OMG OMG I took $3 more in deductions than I really should have, I can't go to jail, I don't wanna get raped.

just seems pretty hilarious.

(Previous discussion does not apply if you have plans to be nominated for HHS secretary someday...in which case, yes, crucifixion will apply)

Yeah a lot of people don't realize that the IRS really only prosecutes people after they've sent them a bill and given them a chance to make it right. See: Richard Hatch.

[BobSacamano]

Truth be told the C&F concerns are usually overblown. It's really, really rare for someone to be denied admission to the bar for a violation (something in the 1% range in most jurisdictions... of course, you could be that 1%). However, it's probably a good thing to be extremely cautious about it because the sanctions are so severe.

When in doubt, DISCLOSE. Go to your Dean now if you're worried about it. Even if you "forgot" something on your app, going to see the Dean now will help you immensely down the road.

[dreman510]

Nobody will care if it's an honest oversight.

I pretty much do amended returns for a living...once you start seeing dozens of people with many millions in back taxes for overseas income they've miraculously just remembered getting a bill from the IRS with no further questions asked, seeing people freak out with something like:

OMG OMG OMG I took $3 more in deductions than I really should have, I can't go to jail, I don't wanna get raped.

just seems pretty hilarious.

(Previous discussion does not apply if you have plans to be nominated for HHS secretary someday...in which case, yes, crucifixion will apply)

Yeah a lot of people don't realize that the IRS really only prosecutes people after they've sent them a bill and given them a chance to make it right. See: Richard Hatch.

If thats the case, then why bother paying someone to do your taxes, and taking the time to do it? Why not just have the IRS send you a bill?

[apper123]

Nobody will care if it's an honest oversight.

I pretty much do amended returns for a living...once you start seeing dozens of people with many millions in back taxes for overseas income they've miraculously just remembered getting a bill from the IRS with no further questions asked, seeing people freak out with something like:

OMG OMG OMG I took $3 more in deductions than I really should have, I can't go to jail, I don't wanna get raped.

just seems pretty hilarious.

(Previous discussion does not apply if you have plans to be nominated for HHS secretary someday...in which case, yes, crucifixion will apply)

Yeah a lot of people don't realize that the IRS really only prosecutes people after they've sent them a bill and given them a chance to make it right. See: Richard Hatch.

If thats the case, then why bother paying someone to do your taxes, and taking the time to do it? Why not just have the IRS send you a bill?

Because the bill includes fines, fees, interest, etc.

And those fines can get pretty freaking huge. But you aren't going to have the FBI kicking your door down and dragging you into federal court if you screw up on a return or "forget" something. (and you are willing to correct your mistake)

Don't take my word as gospel, please. I'm just speaking off from what my CPA friends have told me. People get so paranoid about making mistakes on tax returns. Yeah, it sucks and will cost you $$, but you won't spend a night in jail over a minor oversight.

[weaselology]

Right. I just never know if I fill out my tax returns correctly each year, so thats my worry, and I dont make enough to make it worth an accountant . I know im just paranoid, since they dont care about tax returns anyway

Not sure if you know about this but there is free filing assistance available to qualifying taxpayers: http://www.irs.gov/efile/article/0,,id=118986,00.html

[dreman510]

Right. I just never know if I fill out my tax returns correctly each year, so thats my worry, and I dont make enough to make it worth an accountant . I know im just paranoid, since they dont care about tax returns anyway

Not sure if you know about this but there is free filing assistance available to qualifying taxpayers: http://www.irs.gov/efile/article/0,,id=118986,00.html

Yea ive seen that, thanks. But 1099 are crazy annoying to file...