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By Jeffrey M. Glassman on February 29, 2024

IRS Launches New Effort at High Income Non-Filers: Impacted Taxpayers Should Seek Representation... [ read ]

On February 29, 2024, the IRS announced a new effort to target high-income individuals. This time the IRS announced that they have opened 125,000 cases focusing on millionaires who have failed to file income tax returns. The IRS believes that, based on third-party information received, there may be more than $100 billion of unreported financial activity and conservatively hundreds of millions of dollars of unpaid tax.

By Joel N. Crouch on February 27, 2024

The Most Important Elements of a Successful IRS Voluntary Disclosure? Timing and Luck.... [ read ]

As in comedy, the most important element in an IRS voluntary disclosure is generally timing. However, a couple of U.S. Tax Court memorandum opinions in Whistleblower 14376-16W v. Commissioner, T.C. Memo 2017-181 and T.C. Memo 2024-22, point out that timing and luck are the most important elements of a voluntary disclosure

By Joel N. Crouch on February 23, 2024

Another Shot Across the ERC Bow by the IRS... [ read ]

One of my ERC friends sent me the IRS letter below that was received by one of his ERC clients about their ERC filing. The letter, Notice CP271, says there has been aggressive advertising involving ERC and the employer should confirm they are entitled to the ERC amount they claimed.

By Joel N. Crouch on February 21, 2024

Return Preparer Fraud Results in Harsh Outcome for Innocent Taxpayer... [ read ]

the IRS generally has three years to assess additional tax, pursuant to IRC Section 6501. The three years can be extended by agreement, the taxpayer filing for bankruptcy, the IRS issuing a Notice of Deficiency, or taxpayer involvement in a third party summons enforcement action.

By Anthony P. Daddino on February 21, 2024

IRS Announces New Audit Initiative Focused on Private Jet Usage... [ read ]

According to the IRS, private jet usage by certain taxpayers just doesn't fly. Today the IRS announced plans to initiate dozens of audits on business aircraft involving personal use. The audits will focus on aircraft usage by large corporations, large partnerships and high-income taxpayers and whether use of aircrafts is being properly allocated between business and personal reasons.

By Jeffrey M. Glassman on February 21, 2024

Can the U.S. Tax Court Hear ERC Lawsuits?... [ read ]

As more and more taxpayers consider filing lawsuits to receive an ERC refund, it is important to understand where the lawsuits can be filed. Before a taxpayer is legally allowed to file a refund lawsuit in court, taxpayers must first file a claim for refund with the IRS.

By Anthony P. Daddino on February 16, 2024

No Chocolate/Flowers: IRS Dishes Out the Threat of ERC Penalties as its Valentines Gift to Taxpayers... [ read ]

The IRS was not feeling the love this past Valentine's Day, releasing a new FAQ to its Employee Retention Credit Voluntary Disclosure Program that identifies the multitude of criminal and civil penalties that could apply to non-compliant taxpayers that choose not to participate in the program.

By Anthony P. Daddino on February 14, 2024

IRS Taps into its Inner ‘Letterman' in releasing Top 7 Signs of Improper ERC... [ read ]

For those of you who missed it, the IRS launched a voluntary disclosure program for taxpayers that may have improperly claimed employee retentions credits (ERCs). With the March 22nd program deadline looming, the IRS announced yesterday its "Top 7" list highlighting warning signs that an ERC claim may be questionable.

By Jeffrey M. Glassman on February 12, 2024

ERC Refund Litigation: The Role of Local Counsel... [ read ]

Given that the IRS Employee Retention Credit ("ERC" or "ERTC") moratorium is still in effect, and ERC claims not subject to the moratorium are being processed slowly, there are possibly many ERC refund lawsuits that may be filed soon. The rules of civil procedure generally provide that cases against the U.S. government can be filed only in the judicial district where the plaintiff resides or where a corporation has its principal place of business. So needless to say, if there are in fact many ERC lawsuits filed, they will likely be filed in many different courts.

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