PERSPECTIVES
IRS Announces New Initiatives to Restore Fairness to Tax System
On September 8, 2023, the IRS announced the start of a “sweeping, historic effort to restore fairness in tax compliance by shifting more attention onto high-income earners, partnerships, large corporations and promotors abusing the nation’s tax laws.” (IR-2023-166) The timing of this announcement at the...
Read moreIRS Imposes Moratorium on Employee Retention Credit
Just a month after the Internal Revenue Service (IRS) released guidance on how federal credit unions may claim the employee retention credit (ERC), the agency issued a moratorium on processing new claims for the credit. The moratorium is expected to last at least until the...
Read moreTax Court Dismisses Petition Filed 11 Seconds Late
“In delay there lies no plenty.” – William Shakespeare, Twelfth Night, Act II, Scene III (circa 1601). In a recent decision, Sanders v. Commissioner, 160 T.C. No.16 (2023), the United States Tax Court held that the court was required to dismiss the case for lack...
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