September 15, 2012
Reliance on tax preparation software is no defense against an IRS penalty, the Tax Court says. Although a filer used the TurboTax program to do her return, she made several mistakes, and IRS assessed a 20% penalty because the deficiency was more than $5,000. She argued that she should not be liable for the penalty because she used tax software, but the Court said no (Bartlett, TC Memo. 2012-254). The errors were caused by her faulty input, not by a mistake in the tax program. In the Court’s view, tax software is only as good as the information entered into it.
The 2019 small and midsized business (SMB) Cyberthreat Study from Keeper Security reported that nearly two out of three SMB owners do not feel threatened by or are not concerned about cyber attacks. Yet, in the previous year’s study, two out of three business owners reported falling victim to some level of data breach.
It’s often argued that cloud based computing started in the 60’s, but the Google’s and Amazon's of the world capitalized on the term in 2006.
We can all get caught up in the day…meetings, calls, texts, emails and the myriad of other workday demands that pile up quickly and can create unwanted stress.