Current Federal Tax Developments

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2017-02-06 Double Dose of Reasonable Cause Failures

This is Current Federal Tax Developments for the week of February 6, 2017 - Double Dose of Reasonable Cause Failures.  Current Federal Tax Developments is brought to you by the state CPA societies and Nichols Patrick CPE.

This week we look at the following developments

  • Last minute changes to separation agreement doom alimony deduction
  • The IRS comments on the tax treatment of employer medical indemnity programs
  • Percentage of completion method is not just for construction contracts, though this taxpayer may or may not have had one
  • A taxpayer found not to have reasonably relied on tax professional, penalized over $100,000 for failures to file Forms 5471
  • Taxpayer told the Ninth Circuit won’t allow a reasonable cause defense for the trust fund penalty

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2017-02-06 Double Dose of Reasonable Cause Failures Edward K. Zollars, CPA

A PDF with the articles for this week's developments can be downloaded below:

2017-02-06 Current Federal Tax Developments