2020-03-01 Late Filing Week

Current Federal Tax Developments for the week of March 2, 2020: Late Filing

• Taxpayer who voluntarily exited OVDI program ended up with very poor result.
• Illnesses of corporate officers not found to give reasonable cause for late filing of S corporation returns.
• Supreme Court refuses to review Ninth Circuit ruling upholding IRS regulation that only items listed in §7502 can be used to prove timely filing.

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