Resources

Earlier today, the IRS announced a second time-limited settlement initiative for certain taxpayers under audit who participated in microcaptive insurance transactions.   Only taxpayers who receive an offer...

I know what you are thinking: I can’t count letters.  But the truth is far worse.  The IRS used the five-letter “F” word:  Fraud. The IRS recently released an IRS attorney memorandum addressing the...

I recently had one of those “aha” moments and thought it was blog-post worthy. A tax return preparer called me after a tax return he tried to electronically file was rejected by the IRS because a return had already been...

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...