Loose Lips

June 26, 2012 Posted by Rick

Most tax informers are disgruntled employees and former spouses or lovers.

It appears a local company has learned that it generally isn’t wise to talk carelessly about their taxes – especially about sensitive areas. Why? Because the wrong person overheard and turned informer, either for revenge or in the hope of an informer’s reward.

An informer’s tip to the IRS apparently has triggered a tax audit. Even though the company may have done nothing improper, they will have to suffer through an audit. Not only is this time-consuming, but it can also result in additional taxes due to the discovery of errors on their return or the disallowance of marginal deductions.

So remember, loose lips sink ships, and may also bring on a tax audit.

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