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Re: Getting rid of your timeshare (by R P.):

donp196 wrote:

It's bad enough being stuck with maintenance fees and assessments but better that then dealing with the IRS when you find out that you took an illegal deduction. I wouldn't be able to sleep at night waiting for the hammer to fall. DRK doesn't care if you get audited. It's not his butt on the line.

Exactly, and many times it can take years before the IRS contacts you .... adding more penalties and interest.

I remember when we had to put my dad in a nursing home .... I had no idea he had to pay income taxes .... I was his Power of Attorney and handled all his business affairs .... I didn't file .... it was a few years later and after his death that they contacted me even though his mail was my address (it took that long) .... lots of penalties and interest added on, but they were kind enough (after explaining the situation) to let me just pay the back taxes he owed minus the penalties and interest.