Tax Resolution Expert, Attorney Lance Drury Says Not Having Receipts is No Reason Not To Take Deductions.
St Genevieve, MO, February 23, 2015:Tax resolution attorney Lance Drury, founder of the Law Firm of Lance R. Drury, and best selling author of “Successonomics” posted a new blog on the LANCE DRURY LAW website entitled “No Receipts for the IRS? Try a Song and Dance Routine.”When you can’t use the old “dog ate my homework” excuse with the IRS, Lance Drury reminds his readers about a workable way around producing receipts.
Drury writes, “Not only did song and dance playwright, George M. Cohan lead the way on Broadway, he also broke new ground with the IRS.” It takes exceptional boldness to go up against the IRS, and according to Drury, Cohan had it. Drury relates the story saying, “Cohan who wrote Broadway hits like “Give My Regards to Broadway” and “Yankee Doodle Boy” paid for much of his travel and entertainment with cash and was bold enough to go up against the IRS when, back in the 1920’s they denied all his deductions.”
Drury is not, as he says, “… advocating sloppy or careless recordkeeping, however there are times when critical receipts seem to vanish.” When that does occur, as Drury states, “thanks to good old George, even if you can’t find a receipt today, you’re not up the creek without a paddle.”
According to Drury, “If you’re unwilling, like George Cohan was, to take “no” for an answer, you might find that providing written statements and/or other supporting evidence could prove to be convincing to the IRS or an Appeals Court. In many cases even charitable contributions have been allowed under the Cohan Rule, though not in cases subject to special strict substantiation requirements.” He adds, “If you are afraid to take a deduction because you don’t have a receipt, remember the song and dance man and remind your lawyer of the Cohan Rule. And if you’re ever in New York City, stop by and pay him tribute. You’ll find a statue of the IRS and Broadway pioneer in Times Square.”
The entire blog can be found at http://www.lancedrurylaw.com/expense-receipts-irs-try-song-dance-routine/
About Lance Drury
Tax Attorney Lance Drury, founder of the Law Firm of Lance R. Drury, has been practicing law since 1984 and began representing individuals and businesses in disputes with the Internal Revenue Service in 2006. With offices located in Ste. Genevieve and Columbia, Missouri, Drury has positioned himself as a leading attorney in the state for IRS tax resolution issues. He is able to evaluate the unique situation of clients and provide them with honest answers and a specific plan to best resolve their tax problems
About The Lance Drury Law Firm
Since 2006, the Law Firm of Lance R. Drury has been representing individuals and businesses in disputes with the Internal Revenue Service and State of Missouri Tax Commission. With offices located in Ste. Genevieve and Columbia, Missouri, we’re proud to be your local choice for Missouri tax services.