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tax Advice Archive

Congress to Consign IRC 6751(b) to the Graev?

TweetShareSharePin0 Shares Carl Smith brought to my attention that one of the provisions in the tax bill currently working its way through Congress proposes to repeal IRC 6751(b) and he provided me with the title to this post.  I joked with others on the email thread that such a repeal could spell the end of

Transcript Delivery System down for some Form 941 transcripts

TweetShareSharePin0 Shares News PROCEDURE & ADMINISTRATION By Alistair M. Nevius, J.D. The IRS has reported a Transcript Delivery System (TDS) programming issue that affects business taxpayers who reported information related to COVID-19 employment tax relief on Form 941, Employer’s Quarterly Federal Tax Return. The IRS says that, as a result, account transcripts requested for

Ways and Means releases list of tax provisions for budget bill

TweetShareSharePin0 Shares The House Ways and Means Committee on Monday released legislative text for proposed tax changes to be incorporated in the budget reconciliation bill known as the “Build America Back Better” act. The committee plans to mark up the bill on Tuesday and Wednesday. The proposal would raise tax rates for corporations and individuals

Credit Carry Forward as Timely Refund Claim

TweetShareSharePin0 Shares In Libitzky v. United States, No. 3:18-cv-00792 (N. D. Cal. 2021) the district court dismisses cross motions for summary judgment in a refund suit and pushes the case forward for a determination by a jury.  The parties agree that the Libitzkys overpaid their 2011 liability by almost $700,000.  They disagree on the issue
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