Current Federal Tax Developments

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2016-09-19 Reasonable Cause

This is Current Federal Tax Developments for the week of September 19, 2016 - Reasonably Late  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:

  • Minister’s vow of poverty failed to allow him to escape tax
  • Former spouse discovers payment is actually alimony
  • Taxpayers can’t ignore the corporation they created - despite IRS doing so on two prior exams
  • Merely serving a deserving individual not enough to gain tax exempt status
  • The IRS looks at what is and is not reasonable cause - and states a preference for using the first time abatement program

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2016-09-19 Reasonably Late Ed Zollars, CPA

A PDF file with articles on this week's updates can be downloaded from the following link: