If you know me, you know that I love sports – especially basketball. And you couldn’t have scripted a better Game 7 in the Eastern Conference semifinals of the NBA Championship.
The pivotal moment in that game involved Kevin Durant taking a spinning jumper near the three-point line. He made it – but because he was standing on the line, those potential three points turned into two points – and overtime.
When I watched the replay, I thought of Al Pacino’s character in “Any Given Sunday” when he compared life to sports.
“You find out life’s this game of inches… the margin for error is so small—I mean one-half a step too late, or too early, and you don’t quite make it,” he says. “The inches we need are everywhere around us.”
That’s true in tax, too. Making a mistake in the tax world—even if it seems small or isn’t intentional—often results in a hefty penalty. And, as in sports, what you do next can make all the difference.
For more, read As in Sports, The Tax World Can Be A Game of Inches (on Bloomberg Tax, outside of the paywall).
Every week, you can find my column on Bloomberg Tax. Currently, there is no handy notification or alarm when my column goes live on Bloomberg – but that could be changing soon. For now, I’ll post the links here on Taxgirl. And for even more tax news, follow me on Twitter at @taxgirl.
