Tax
Mar. 6, 2020
Simple question on IRS Form 1040? Be careful
Tax returns have to be filed under penalties of perjury. You might not think about it each year when you get to the bottom of the form, but you should. That can make seemingly harmless yes or no questions have teeth.
Robert W. Wood
Managing Partner
Wood LLP
333 Sacramento St
San Francisco , California 94111-3601
Phone: (415) 834-0113
Fax: (415) 789-4540
Email: wood@WoodLLP.com
Univ of Chicago Law School
Wood is a tax lawyer at Wood LLP, and often advises lawyers and litigants about tax issues.
Tax returns have to be filed under penalties of perjury. You might not think about it each year when you get to the bottom of the form, but you should. That can make seemingly harmless yes or no questions have teeth. When you file your taxes this year, the IRS wants to ask you a simple question: "At any time during 2019, did you receive, sell, send, exchange or otherwise acquire any financial interest in any virtual currency?" It's pretty simple, just yes or no, right...
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