August 22, 2016 - Being Reasonable
This is Current Federal Tax Developments for the week of August 22, 2016 - Courts Tell IRS to Be Reasonable. Current Federal Tax Developments is brought to you by the state CPA societies and Nichols Patrick CPE, Incorporated.
This week we’ll look at the following:
- A taxpayers finds no deduction allowed because she hadn’t begun a business
- IRS wins, but most likely ends up having given taxpayer an additional deduction
- An email looks at the employment status of adult companions
- A partnership had reasonable cause for late filing due to extremely unreliable information on its only investment
- §501(c)(3) corporation still subject to lower large corporation interest on overpayment
- A taxpayers mistake regarding year of deduction provided reasonable cause for late filing
An audio only version can be streamed or downloaded below
The articles for the topics discussed this week can be found in the PDF file listed below.