IRS announces security related changes to CAFs and the method by which representatives can obtain a transcript, IRS updates on ERC voluntary compliance program result and more.

2024-05-06 IRS Can Assess Penalties for Failure to File Form 5471 per DC Circuit

28 days ago

This week we look at:IRS releases Fact Sheet on disaster provisions for retirement accounts added by SECURE 2.0 ActDC Circuit reverses Tax Court ruling that IRS does not have assessment authority for failure to file a report under IRC §6038(b)

2024-04-29 No Minimum Attention Required for Supervisor Approval of Penalties per Tax Court

Apr 28th, 2024

Final regulations on transfers of certain energy credits released, Tax Court rules on whether there's a minimum level of involvement with an exam before a supervisor can approve a proposed penalty and more.

2024-04-22 IRS Extends Limited RMD Relief But Warns They Expect This to Be the Last Time

Apr 20th, 2024

IRS grants certain RMD relief, but apparently for the last time and FinCEN adds more guidance to its BOI reporting FAQ.

2024-04-01 Tax Court Reverses Position on Validity of Conservation Easement Regulation

Mar 31st, 2024

Tax Court reverses position on the validity of conservation easement regulations, Supreme Court hears a closely held corporation valuation case and more

2024-03-25 ERC Voluntary Disclosure Program Is Over - What Next

Mar 24th, 2024

IRS discusses what happens now that the ERC voluntary disclosure program has ended, there may be a cloture vote in the Senate on the tax bill that passed the House at end of January and more.

2024-03-18 Last Call to Enter ERC Voluntary Disclosure Program

Mar 17th, 2024

FinCEN formally announces appeal of CTA case, IRS notes ends of ERC voluntary disclosure program and more

2024-03-11 FinCEN Announces Enforcement Reaction to Alabama Case

Mar 10th, 2024

FinCEN announces reaction to Alabama District Court opinion, IRS warns on organizations pushing doctor's notes and more.

2024-03-04 Court Questions Constitutionality of the CTA

Mar 3rd, 2024

District Court finds Congress lacked authority under the Constitution to enact the Corporate Transparency Act, Tax Courts rules on effective date of SECURE 2.0 Act and more.

2024-02-26 More BOI Information from Insurer

Feb 26th, 2024

More BOI information released by insurers, age is one of the reasons a taxpayer was denied a stay of their FBAR case and more.

2024-02-19 Insurers Update BOI Guidance

Feb 18th, 2024

Insurers update their guidance on BOI engagements, SALT cap bill dies in the House, and more.

2024-02-12 Are You Giving Bad Advice on Electronic Filing?

Feb 10th, 2024

Competing articles on whether taxpayers should file tax returns electronically, the IRS warns about limits of ERC voluntary disclosure program and more.

2024-02-05 More Movement on Proposed Retroactive Tax Bills

Feb 5th, 2024

The House passes one bipartisan bill and agrees to vote on another tax bill, tax filing season opens up and more.

2024-01-29 Bipartisan Retroactive Tax Bill Clears Ways and Means Committee

Jan 28th, 2024

A look at what's in the tax bill that passed the Ways & Means Committee on a 40-3 vote, but still faces an uncertain future.

2024-01-16 Form 8308 Relief

Jan 14th, 2024

Talks continue in Congress about a potential new tax bill and IRS issues three pieces of guidance.

2024-01-08 IRS Mistake Stands as Taxpayer Benefits

Jan 7th, 2024

Congress shows some movement on a limited set of extenders for 2023, IRS mistake in notice of deficiency in the deadline to file a Tax Court petition works to a taxpayer's advantage and more.

2024-01-02 FinCEN Welcomes 2024 By Opening BOI Filing Site

Jan 1st, 2024

FinCEN opens up their web site for the electronic filing of Beneficial Ownership Information reports.

2023-12-26 IRS Plays Santa With Two Relief Programs

Dec 24th, 2023

The IRS announces both the ERC Voluntary Disclosure Program, program offering relief from failure-to-pay penalties for 2020 and 2021 taxes, and more.

2023-12-18 FinCEN BOI Week

Dec 17th, 2023

More FinCEN BOI changes and proposed changes, IRS brings out new mileage numbers for 2024 and the Supreme Court takes on an estate planning valuation case

2023-12-11 First ERC Challenge in Court

Dec 10th, 2023

Challenge to IRS ERC guidance based on failure to follow the APA filed, IRS sends out over 20,000 ERC claim denial letters and more.

2023-12-04 State Law Limited Partners and Self-Employment Tax

Dec 3rd, 2023

Tax Court ruling on whether a state law limited partner automatically qualifies for relief from self-employment income allocation, FinCEN finalizes 2024 extension rule and rule.