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Tax Podcast: Sometimes too late is really too late

  • March 9, 2020

This week's topics include IRS denies a taxpayer's request to make a late mark to market election under §475(f), loss limits for passive activities, basis and at-risk also limit self-employment loss use, and revenue procedure grants relief for filing some information returns for certain foreign trusts. Continue Reading

Coronavirus: What clients and advisors need to know

  • March 2, 2020

Advisers should seek to help clients deal with the effects of the coronavirus outbreak on a financial and personal level. Consider discussing the market downturn with clients to see if adjustments need to be made and encourage them to take preventative measures to keep themselves healthy. PFP Section members can use this Broadridge Advisor alert to proactively reach out to clients about the coronavirus and its impact on the global economy. Continue Reading

Tax Podcast: Late Filing Week

  • March 2, 2020

This week's topic's include poor results for a taxpayer who voluntarily exited OVDI program, illness of corporate officers not a reasonable cause for late filing of S corporation returns, and Supreme Court refuses to review Ninth Circuit ruling upholding IRS regulation that only items listed in §7502 can be used to prove timely filing. Continue Reading