Actually, this is your opinion and if are the Judge in the case, then your opinion would prevail. But, since you know little of what you are talking about, then you will probably NEVER be a judge in a small matter like this.
#39 | Posted by Eddie at 2008-10-07 04:39 PM
It is not a small matter, it is a Felony.
And I get to be HER judge on Nov 4th, 2008.
We ALL do.
#45 | Posted by donnerboy
Actually? It's not a felony; it's not even a crime.
The crime is when you don't report income, she reported it.
However, her CPA interpreted the "regulation" to mean that she did not need to pay taxes on it.
So far, no one at the IRS has questioned it. It's all computerized and the computer would have caught it. The IRS software will flag an item on a return and a real person will analyze it. If there is a suspension that the regulation is not being followed, then an audit is triggered.
She hasn't had an audit, has she?
So, in conclusion, the computer software written by the IRS, who are tax regulation experts, did not catch it. And, this would have been a flag after the first scan of the return!!!
During the audit, the meaning of the regulation is argued. If the IRS agent insists that taxes are owed on it, then the tax payer can appeal and bring it to court. Or, just pay the penalty for being late and the interest.
So, you see the crime? I don't. This is The System that you Libs love so much.