Current Federal Tax Developments for the week of July 2, 2018: Postcard Week.

This week we look at the following items:

IRS releases a new “postcard” dratt for Form 1040 along with 6 schedules
CPA who advised on ESOP and prepared 5500s was still found to be an independent appraiser on third time to court
IRS publishes the list of qualified opportunity zones under TCJA’s Section 1400Z-1
A amendment of a return with fraudulent positions does not reduce the fraud penalty
Taxpayer discovers IRS had not agreed to waive all penalties when taxpayer agreed to exam changes

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Articles on this week's topics can be read in the PDF you can download below: