I sincerely hope that Weston has made adequate provisions for his family while he pays all the penalties, interest, and taxes while spending time in prison.
followed byWeston wrote:I bet that the smart money this year is on the majority of us that filed legal returns last year and file the same this year are going to get full refunds less our $5,000-10,000 § 6702 penalties. Hehee
If I can pass a word of advice to hughg: Moron, it will be a cakewalk -- all over you.hughg wrote:I guess the courts are going to be busy this next year. The government takes and forces you to take them to court to prove them wrong. Enough of us have learned enough to take them to task. Its not going to be the cakewalk for them anymore.
Your position will be laughed out of any court you attempt. If you try anything in Tax Court, you are going to get hit with a sanction of $25,000. The court is getting really tired of wasting time over your inane arguments.
Fortunately, the District and Appellate courts only impose sanctions (for frivolous appeal) in the range of $10,000.
So, your quixotic charge through the courts won't cost you anything more than $45,000. If you don't happen to have the cash to pay that (plus the income taxes, interest, and penalties), the government will be perfectly happy to take your house, cars, savings, and anything else you own and sell it to recover what you will end up owing.
But don't let this get you down. You can always file a civil suit against Pete for his bad advice.