2020-03-09 Sometimes Too Late is Just Too Late

Current Federal Tax Developments for the week of March 9, 2020: Sometimes Too Late Really is Too Late:

• IRS denies a taxpayer's request to make a late mark to market election under §475(f)

• Loss limits for passive activities, basis and at-risk also limit self-employment loss use

• Revenue Procedure grants relief for filing some information returns for certain foreign trusts

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2020-03-09 Current Federal Tax Developments