The Coronavirus Aid, Relief, and Economic Security Act, also known as the CARES Act, was enacted in March 2020 and created a refundable tax credit for individuals. The advance payments authorized by the CARES Act are referred...more
The Internal Revenue Regulations provide for a defense from the 20% negligence penalty imposed under Section 6662(a) of the Internal Revenue Code only where the taxpayer’s “return position is reasonably based on one or more...more
Accounting firms have specific rights and duties that come into play when they market to their clients using data gleaned from the return preparation process. The general rule is that returns and return information cannot be...more
Under the new Section 7345 of the Internal Revenue Code coming into effect in January 2018, Congress has given the IRS the power to “certify” the names of delinquent taxpayers to the State Department for purposes of denying...more
11/2/2017
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