Posts Tagged ‘turbotax defense’

Tax Relief News: Geithner’s TurboTax Defense is Not Reasonable Cause for Understatement of Taxes

Friday, August 6th, 2010

In recent U.S. Tax Court News, Treasury Secretary Tim Geithner, who owed $34,000 in back taxes and didn’t pay all of it until Obama nominated him, was not granted penalty abatement. His defense that he relied on TurboTax to prompt him to pay his self- employment taxes was rejected and does not excuse him from penalty or errors on his tax return.
I know from negotiating cases with the IRS day
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