News & Analysis as of

Filing Requirements Penalties Tax Liability

Vedder Price

IRS Extends Transitional Relief for Digital Asset Broker Reporting and Backup Withholding

Vedder Price on

On June 12, 2025, the Internal Revenue Service (IRS) released Notice 2025-33 which extends for an additional calendar year the transitional relief initially provided in Notice 2024-56 to brokers required to report digital...more

Amundsen Davis LLC

Does My Company Qualify for Wisconsin’s Voluntary Disclosure Program?

Amundsen Davis LLC on

Taxes and their applicable laws can be confusing for even the most savvy businesspeople. For any number of reasons, businesses and individuals fall out of compliance with tax reporting requirements and become exposed to...more

Farrell Fritz, P.C.

Responding to NYS Tax Department Letters: Key Steps for Taxpayers

Farrell Fritz, P.C. on

Earlier this month, New York State Department of Taxation and Finance published a press release explaining what taxpayers should do when they receive a letter from the Tax Department. The press release outlined several...more

Freeman Law

Penalties for Failures with Respect to Forms 1099 and Other Information Returns

Freeman Law on

Section 6721 of the Internal Revenue Code imposes a penalty on any person who fails to file a Form 1099 or other information return to the IRS by the required filing date, fails to include all information required to be shown...more

Farrell Fritz, P.C.

Nassau County Commercial Real Property Tax Alert - January 2025

Farrell Fritz, P.C. on

Annual Survey of Income and Expenses – ASIE-2024 As of February 1st, 2025, pursuant to the Nassau County Administrative Code, Section 6-30, the Nassau County Department of Assessment (“the Assessor”) is requiring the...more

Kilpatrick

Approaching Deadline: Reporting for ISO Exercises and ESPP Stock Transfers Due Beginning January 31, 2025

Kilpatrick on

This alert is a reminder of the approaching deadlines for certain year-end reporting requirements applicable to corporations that issue stock to employees (including former employees) upon the exercise of certain stock...more

Foodman CPAs & Advisors

Not Mea Culpa

There are times when Taxpayers will attempt to use the “it is not my fault” argument as a defense relating to IRS penalties. Taxpayers might argue that they relied on guidance from a tax professional or from a tax software...more

Snell & Wilmer

Arizona Offers Rare But Limited Opportunity to Avoid Penalties and Interest, and Optional Payment Plan – Application Deadline:...

Snell & Wilmer on

On the heels of a very successful program that ended less than a year ago, the Arizona legislature has required the Arizona Department of Revenue (ADOR) to establish and administer a second “tax recovery program” that can...more

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