However, if you are a significant shareholder of a smaller-cap company like wireless connectivity provider iPass (nasdaq: IPAS - news - people ) and intend to present a legitimate resolution at the meeting to unlock shareholder value, the cost of getting to California for the meeting would be an allowable deduction.

FORBES: Most Overlooked Deductions

In the past taxpayers generally had to pay the IRS the total value of all their assets plus 60 times their net monthly income after using the IRS strict allowable expense standards.

FORBES: New IRS Offer In Compromise Policies