Current Federal Tax Developments for the week of July 10, 2017 - Turn in Your Customers, Or Else. Current Federal Tax Developments is brought to you by the state CPA societies and the Loscalzo Institute.
This week we look at the following developments
- A new use tax tattletale law goes on the books, but with a much lower trigger and higher penalties
- IRS reminds us the IRC trumps a Tax Court memorandum decision - especially when the IRS apparently forgot to argue the law at trial
- Failing to report the basis of an asset being donated dooms any charitable contribution deduction
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Articles giving more details on the developments covered can be downloaded below: