Sec. 6752(1)(b) was satisfied by an IRS supervisor’s timely signed approval of penalties against the taxpayer, without any “meaningful review” or “reasoned decision-making,” the Tax Court held.
Tax-related identity theft remains widespread and a potentially serious problem for victims, for whom authorized representatives can provide vital help.
A corporation’s annual charitable contribution deduction cannot exceed 10% of the corporation’s taxable income Sec. 170 (b) (2) (A)), computed without regard to the following (Sec. 170 (b) (2) (D)): ...
Taxpayers, such as those in Zuch and Murrin, can face unique circumstances where the law overrides their intentions.
The Tax Court held it lacked jurisdiction over the Sec. 6226(b) deadline for filing a petition for readjustment of partnership items under the Tax Equity and Fiscal Responsibility Act’s regime, and ...
The proposed regulations clarify points including the interaction of qualifying occupations for which tips are customarily received with ineligible specified service trades or businesses.
This article explores the strategic use of this election, highlighting its potential to optimize tax outcomes for both trusts and beneficiaries while cautioning against its pitfalls.
Payments including for electricity from electric vehicle stations applied toward the real estate investment trust’s ...
A notice limits methods of meeting a key deadline for project eligibility for two clean energy credits, which recent ...
The North American Industry Classification System, already in use for other tax purposes, replaces a specified manual that ...
The ruling hinges on the corporation and trust being treated as a single entity and meeting other requirements under Regs.
A presidential working group’s report advocates the United States implement the OECD’s Crypto-Asset Reporting Framework, an ...
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