By knowing the factors courts consider in determining whether a taxpayer meets the requirements for the reasonable-cause exception, and how the courts have applied the factors, tax advisers can help their clients properly mount a defense to an accuracy-related penalty.
This article discusses who qualifies to take the credit, how to make the election, the calculation and allocation of the credit, and how to report it.
This update surveys recent federal tax developments involving individuals, including court cases, rulings, and guidance issued during the six months ending October 2025.
