TAXES Archive

TweetShareSharePin0 Shares 0 Flares Filament.io Made with Flare More Info“> 0 Flares × Last month Commissioner Rettig testified before the Senate Finance Committee, and he stated that the tax gap could be approaching $1 trillion annually. That got a lot of attention, especially as the IRS’s own official

TweetShareSharePin0 Shares The Tax Court Needlessly Expends Considerable Judicial Resources Each Month Incorrectly Policing the Filing Deadline as a Jurisdictional Issue. Many taxpayers might be affected by a ruling that the Tax Court’s deficiency jurisdiction filing deadline is not jurisdictional (whether or not the filing deadline is also subject to equitable tolling). In the fiscal

TweetShareSharePin0 Shares In Rev. Proc. 2021-25, the IRS on Monday provided 2022 inflation-adjusted amounts pertaining to health savings accounts (HSAs) and the maximum amount that may be made newly available for certain health reimbursement arrangements (HRAs). HSA amounts The annual limitation on deductions under Sec. 223(b)(2)(A) for an HSA with self-only coverage is $3,650, an

TweetShareSharePin0 Shares The ABA Section of Taxation kicks off its third full virtual meeting today. A full week of programming follows today’s plenary session. I will preview a few sessions of interest in this post. The full program is available here. To register, click here. (Registration is free for J.D. and LL.M. students.) Sessions are

TweetShareSharePin0 SharesWhat to Do If You Can’t Pay Your Taxes The end of tax filing extensions is quickly approaching. What do you do if you can’t pay the amounts you owe? You should still file your return by the due date and pay as much as you can. There are, however, additional steps that might

TweetShareSharePin0 Shares The case of Jacobs v. Commissioner, T.C. Memo 2021-51 (see the 39th doc on the docket) demonstrates once again how difficult it is to obtain attorney’s fees in Tax Court cases.  Maria Dooner and Linda Galler, the authors of the excellent chapter on attorney’s fees in the 8th Edition of Effectively Representing Your

TweetShareSharePin0 Shares We just had a call in the clinic that highlights another unexpected result of the dysfunction at the IRS resulting from the pandemic. As you probably know one result of the pandemic is that the IRS is taking months, perhaps more than a year, to process 2019 returns filed by paper. The filing