This item focuses on interest netting between different tax periods and/or types of tax (“net rate” netting claims).
Collections, Liens & Levies
Taxpayers can lose their US passports over unpaid tax debts meeting certain criteria, and courts have only limited jurisdiction to review a certification or remedy it.
The IRS deploys more AI-powered phone abilities, enabling taxpayers calling the Service to authenticate their identifies and arrange to pay tax liabilities.
Lien held invalid because settlement officer did not properly verify that notices of deficiency had been issued to taxpayer and sent to his last known address.
The economic hardship exception to a levy does not apply to corporations.
Sec. 7345 does not violate the Fifth Amendment because it does not prohibit international travel.
The notice of a right to a CDP hearing is valid if it is properly sent to the taxpayer’s last known address, regardless of who receives it at that address.
This article looks at recent academic research of interest to tax practitioners.
Employers should beware of the trust fund recovery penalty.
A taxpayer did not have an opportunity to challenge a trust fund recovery penalty where he did not receive a letter that scheduled an Appeals conference.
Under Sec. 6751(b)(1), many penalties cannot be assessed by the IRS before written managerial approval is obtained by the immediate supervisor of the person making the initial determination of the penalties. This article discusses which penalties Sec. 6751(b)(1) applies to, when an initial determination of a penalty occurs, whose approval is required, and other issues regarding the written-supervisory approval requirement.
This item discusses whether substantial authority protects against a penalty for a return position that is contrary to a regulation.
Carefully review Notice 2020-23 for the full scope of filing relief granted by the IRS in response to hardships caused by the coronavirus pandemic.
The People First Initiative provides taxpayers relief on a variety of issues ranging from easing payment guidelines to postponing compliance actions.
Willful FBAR penalties upheld because taxpayer exhibited willful blindness of or recklessly violated the FBAR reporting requirements.
Late-filing penalties for foreign trust filings can be devastating to clients and a significant challenge to CPAs trying to explain or eliminate them.
The ruling provides guidance by a federal district court on the application of the civil penalties for unfiled Forms 3520 for foreign trusts.
The IRS is permitting eligible employers who pay qualifying wages to retain an amount of the payroll taxes equal to the amount of qualifying wages that they paid, rather than deposit them with the IRS.
Tax Court decisions address the proof the IRS must provide to show proper supervisory approval was obtained to assert penalties.
The IRS can apply levy proceeds to liabilities for any tax year covered by the levy.