Tax Court Rejects the "Geithner Defense": Lam and Chang v. Commissioner

In a Memorandum Tax Court opinion issued on April 19, 2010, the Tax Court found taxpayers liable for negligence penalties despite their claimed reliance on TurboTax and what has been referred to as the "Geithner Defense." See Aileen Yat Muk Lam and Shaoping Chang v. Commissioner , T.C. Memo...