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Are E-Filed Tax Returns Subject to the Same Late Filing Rules as Paper Tax Returns?
By on July 17, 2018
On July 11th, the 5th Circuit Court of Appeals heard arguments in Haynes v. United States regarding the application of a late filing penalty to an electronically filed tax return that was filed late due to a computer software malfunction. The question before the 5th Circuit is whether the U.S. Supreme Court decision in U.S. v. Boyle is still valid law in the age of electronic filing of tax returns.
By on July 5, 2018
The IRS Large Business and International division – which serves corporations, subchapter S corporations, and partnerships with assets greater than $10 million – has announced a new series of targeted audits, referred to as "campaigns." As previously reported, the IRS is focusing its examinations on specific issues in an effort to channel the development and determination of tax issues into the hands of those agents that have the most knowledge and training in that particular subject matter. Among the tax issues that are the subject of these new audit campaigns are S Corporation distributions, Virtual Currency, and the Section 965 Transition Tax.
