Federal Tax Update Podcast

This week we look at:

• IRS clarified FAQ on §139A and backpay for wrongfully incarcerated members of the armed services
• FinCEN adds to the FAQ on beneficial ownership information reporting

This week we look at:

• Inflation adjusted numbers for 2024 issued by the IRS
• Minor revisions made in final BOI FinCEN Identifier rules
• The IRS issues its second ERC-related GLAM, this time taking aim at OSHA related partial shutdown theories
• If a Notice isn’t binding on the courts, does that mean we can just pretend it doesn’t exist when advising our clients?

This week we look at:

• 2024 inflation adjusted retirement numbers released by the IRS
• MeF 1040 shutdown date announced by the IRS
• Trust found liable for transferee tax in failed Son-of-BOSS shelter to offset stock sale gain
• IRC §41 refund claim grace period extended for yet another year
• Tax Court refuses to expand equitable relief for missing 90-day deadline to file petition