Sec. 6752(1)(b) was satisfied by an IRS supervisor’s timely signed approval of penalties against the taxpayer, without any “meaningful review” or “reasoned decision-making,” the Tax Court held.

Tax-related identity theft remains widespread and a potentially serious problem for victims, for whom authorized representatives can provide vital help.

The ruling hinges on the corporation and trust being treated as a single entity and meeting other requirements under Regs.

Payments including for electricity from electric vehicle stations applied toward the real estate investment trust’s ...

Taxpayers, such as those in Zuch and Murrin, can face unique circumstances where the law overrides their intentions.

The Tax Court held it lacked jurisdiction over the Sec. 6226(b) deadline for filing a petition for readjustment of partnership items under the Tax Equity and Fiscal Responsibility Act’s regime, and ...

Curious about what that IRS transcript code means? Or did you get an error code on WMR? One of the biggest questions we see ...

This article explores the strategic use of this election, highlighting its potential to optimize tax outcomes for both trusts ...

A corporation’s annual charitable contribution deduction cannot exceed 10% of the corporation’s taxable income Sec. 170 (b) (2) (A)), computed without regard to the following (Sec. 170 (b) (2) (D)): ...

The proposed regulations clarify points including the interaction of qualifying occupations for which tips are customarily received with ineligible specified service trades or businesses.