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Ed Zollars - IRS makes clear its position on extended supply chain ERC claims

July 24, 2023

Stay up to date on federal tax developments with this weekly tax webinar by Ed Zollars, CPA-AZ

  • IRS memo makes it clear the agency is very skeptical about extended supply chain ERC claims
  • Third Circuit rules that equitable relief is available for failure to file Tax Court petition in 90 day period for a deficiency
  • IRS asked by Tax Court to justify suspense account method for losses deducted in excess of basis in closed years
  • Taxpayers had to pay tax on funds taken from IRA/pension funds that were paid to fraudster

Federal Tax Developments 07/24/23

2023-07-24 IRS Makes Clear Its Position on Extended Supply Chain ERC Claims from Kaplan Accounting CE on Vimeo.