1808: Tax Fraud - Are You Unintentionally Committing it by Vicki Cook and Amy Blacklock of Women Who Money
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Episode 1808:
Vicki Cook and Amy Blacklock clarify how the IRS distinguishes between willful tax fraud and unintentional negligence, emphasizing that intent is the deciding factor. They outline the serious consequences of fraud compared to the penalties for honest mistakes, helping readers better understand how to avoid costly missteps when filing taxes.
Read along with the original article(s) here: https://womenwhomoney.com/willful-tax-fraud-unintentional-negligence/
Quotes to ponder:
"Fraud requires an intentional act."
"The difference between willful tax fraud and unintentional negligence comes down to intent."
"Negligence may lead to penalties and interest, but fraud can result in criminal charges."
Episode references:
Internal Revenue Service - Taxpayer Rights: https://www.irs.gov/taxpayer-bill-of-rights
IRS - Accuracy-Related Penalty: https://www.irs.gov/taxtopics/tc306
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Optimal Work Daily, presented by the experienced narrator Dan, is a podcast that focuses on enhancing productivity, creativity, and work-life balance. Dan provides clear and engaging narration of thought-provoking articles from leading experts in the fields of work, career development, productivity, and entrepreneurship.
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