HOW TO DEFEND YOURSELF AGAINST THE IRS

by Sandor & Robert S. Fink Frankel ‧ RELEASE DATE: Dec. 1, 1985

When you run afoul of the IRS, there can be the devil to pay. The tax operatives have awesome powers to use against those tempted to try beating the system. As one consequence, according to this authoritative and cautionary guide, the best defense may be keeping your mouth shut and engaging competent counsel. The authors, both practicing attorneys, know whereof they speak. Frankel is a former federal prosecutor, while Fink (who chairs the ABA's Committee on Civil and Criminal Tax Penalties) wrote Tax Fraud, the standard reference for the legal profession. Here, they provide breezy rundowns on the many punishments (including angst) to which errant taxpayers may be subjected, noting that for certain transgressions the burden of proof is on presumptive debtors. With a wealth of case studies (suggesting there's little that's new under the tax-evasion sun), Frankel and Fink show how sophisticated enforcement has become; thanks to Social Security account numbers, accommodating financial institutions, disaffected spouses, and other sources of information, the IRS can accumulate distressingly complete dossiers on its clientele. Besides advising taxpayers in adversarial contact with revenue agents to volunteer nothing (for fear of raising questions best left unraised), the authors recommend thinking twice before taking advantage of opportunities for local amnesty; state officials, they warn, routinely give the IRS the names of those who come forward. Frankel and Fink also offer straightforward explanations of the different kinds of audits which individuals might face, plus briefings on possibly appropriate responses. The odds on being flagged vary, they observe, but anyone with total positive income (i.e., excluding shelters and other attention-grabbing deductions) of $50,000 or more stands a 5% chance of being checked. The frequently amusing text features nothing more gimmicky than a listing of legitimate tax-reduction techniques--income splitting, pension plans, et al. The authors are content to focus on the conditions which prevail, outlining sound protective measures that actual or potential tax delinquents can take to assure themselves many more happy returns.

Pub Date: Dec. 1, 1985

ISBN: N/A

Page Count: -

Publisher: Simon & Schuster

Review Posted Online: N/A

Kirkus Reviews Issue: Nov. 15, 1985

Categories: NONFICTION