itonewbie
Level 15
10-11-2020
08:07 PM
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@Ephesians3-14 wrote:It turns out that my job is to follow the law. It’s also my job to make the most of the tax code and claim the highest refund possible. Both things can be true at the same time.
And now back to my question…
If certain code section, regulations, or case law allow alternative interpretation, maybe. Even then, there has to be substantial authority for that position not to be disclosed. Otherwise, you need to have at least a reasonable basis and that requires disclosure in order to avoid various penalties. When the law is clear as in this case, taking a contrary position could land yourself and your client in some pretty hot water. This is all codified under the IRC - see §6662 and the related regs.
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Still an AllStar
Still an AllStar