IRS Provides Guidance on E-Filing Exemptions, Waivers
The IRS has issued guidance (Notice 2024-18) on the availability of administrative exemptions from...
A Look Ahead: The Limited Partner Exception Post-Soroban: It Ain’t Over
The new year will likely bring more litigation and new IRS audits of limited partners following the...
Understanding Hobby Loss Safe Harbor Rules: Navigating IRC Code Section 183
Introduction
Hobby Loss Safe Harbor Rules, as outlined in IRC Code Section 183, provide taxpayers...
Corporate AMT Draft Form, Instructions Debut at IRS
The IRS has published a draft Form 4626 and draft instructions for tax year 2023, giving taxpayers...
The Ultimate Guide to the Employee Retention Credit (ERC)
The Employee Retention Credit (ERC), also known as the Employee Retention Tax Credit (ERTC), is a...
Taxpayer Gets a Turkey Day Extension for Tax Court Petition
The Tax Court held that a taxpayer’s petition was timely because the court was closed for the...
IRS Discussing Response to Data Sharing by Tax Prep Companies
The IRS is concerned about tax preparation software companies transmitting sensitive taxpayer data...
Tax Court Slams Brakes on Business Expense Deduction
The Tax Court upheld the IRS’s rejection of a transportation manager’s insufficiently substantiated...
IRS Shifting EITC Audit Resources to Pursue Shady Preparers
IRS staff and resources that had been dedicated to earned income tax credit correspondence audits...
New York Court Revives Class Action Challenging Tax Map Verification Fees
The portion of a putative class action seeking declaratory relief in a challenge to a New York...