WASHINGTON — The Internal Revenue Service today issued guidance providing tax relief under the CARES Act for taxpayers with net operating losses. Recently the IRS issued tax relief for partnerships filing amended returns. COVID Relief for taxpayers claiming NOLs Revenue Procedure 2020-24 (PDF) provides guidance to taxpayers with net operating losses that are carried back under the... Read More

From the IRS Newsroom IR-2020-59, March 25, 2020 WASHINGTON — To help people facing the challenges of COVID-19 issues, the Internal Revenue Service announced today a sweeping series of steps to assist taxpayers by providing relief on a variety of issues ranging from easing payment guidelines to postponing compliance actions. “The IRS is taking extraordinary... Read More

Taxpayers have been asking the new their tax attorneys about the new BBA partnership audit procedures. In a nutshell, the salient points are outlined here. Under the new centralized partnership audit rules, the IRS partnership audit is conducted at partnership level. This applies to all partnerships unless they are eligible to and timely elect out.... Read More

The Supreme Court let stand an appeals ruling that precluded a tax refund to movie producers Howard and Karen Baldwin, deferring to an Internal Revenue Service regulation that ended the common-law mailbox rule for refund claims, even though Justice Clarence Thomas reversed his position on an earlier case. In refusing Monday to agree to hear... Read More

Taxpayers frequently ask their tax attorney what to do if they have received a notice that the IRS may levy their property. You should immediately take steps to resolve your tax liability and request a levy release. The IRS can also release a levy if it determines that the levy is causing an immediate economic... Read More

Chief Judge Maurice B. Foley announced today that the United States Tax Court has adopted final amendments to its Rules of Practice and Procedure. The Court has replaced Appendix II, Fees and Charges, with a Fee Schedule. On November 25, 2019, the Court issued proposed amendments to its Rules of Practice and Procedure and invited... Read More

If you have considered submitting an offer in compromise, consult with a tax attorney to make sure that your offer in compromise is submitted correctly. Reviewing your offer in compromise with a tax attorney will ensure that you have the greatest chances of success in settling your tax liability with the IRS. https://tax.thomsonreuters.com/news/tax-court-upholds-rejection-of-offer-in-compromise-denial-of-abatement-request/ If you... Read More

Taxpayers often has their tax attorney what their options are if they are unable to pay their tax liability in full. Moreover, taxpayers often ask how to make payments to the IRS. Taxpayers who owe taxes can choose among the following payment options: IRS Direct Pay allows payment directly from a checking or savings account. This service... Read More

Taxpayers often ask a tax attorney what they need to do if they receive a statutory notice of deficiency from the IRS after an IRS audit. Should you file a Tax Court petition? If you have questions about filing a Tax Court petition, contact a tax attorney today for a free consultation.

The Taxpayer First Act made several important changes that are relevant to taxpayer disputes with the Internal Revenue Service. Many taxpayers ask their tax attorney about the various IRS audit changes. You can read more about the Taxpayer First Act. One important change is that the IRS must now provide 45 days notice before contacting... Read More