Lest we forget the IRS’ position on microcaptives, yesterday the IRS issued a reminder to taxpayers that they should consult an “independent tax advisor” to size-up their captive insurance planning because “any future...
On August 19, 2020 the IRS requested comments on whether it should eliminate disclosures made under Revenue Procedure 94-69, which allows taxpayers to avoid accuracy-related penalties with respect to self-reported adjustments...
Josh Ungerman was quoted in the Bloomberg article, “HILL TAX BRIEFING: Taxes in Focus Heading Into First 2020 Debate,” by Colin Wilhelm, Kaustuv Basu and Patrick Ambrosio on September 29, 2020. Reproduced with...
Is COVID to blame for you missing a tax election, inadvertently terminating an election, or making the wrong election? Do you need immediate IRS attention… during a global pandemic when most IRS offices are closed? Don’t...
While the IRS has refused any formal program for late penalty relief, informally the IRS is embracing the virtue of forgiveness, with the magic word being “COVID-19.” In June 2020, the AICPA penned a letter to Treasury...
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