Tax
May 2, 2022
Dear IRS, sorry, I don’t have receipts
Tax lawyers look to George M. Cohan for a different kind of legacy – an “I’ll take you to court” audacity that is as American as apple pie. It’s a shame that so few taxpayers have even heard of tax law’s “Cohan Rule.”
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.
If you understand anything about our tax system, it’s probably that you must have receipts. In fact, it seems like heresy to suggest that everyone might not have to save all those pesky receipts to prove their tax deductions. We are trained from an early age to document everything, and that is especially true when it comes to taxes. In the tax world, “prove it” isn’t simply a schoolyard bully’s taunt. The IRS puts it much more professionally of course, asking you for...
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