In its continued response to the coronavirus pandemic, the IRS issued on April 9, 2020, Notice 2020-23, which extends various tax-related deadlines that were not previously extended by IRS Notice 2020-18 and its related Frequently Asked Questions (“FAQs”). Under Treasury regulations, the Secretary of the
Caroline D. Ciraolo was quoted in a Tax Notes article, entitled “Direct Deposit Portal May Be New Vehicle for Old Scams.” “There will always be those who seek to abuse the system, but I suspect that individuals caught stealing much-needed relief funds will face law enforcement
Bryan C. Skarlatos quoted in Law360 Tax Authority article entitled “Tax Pros Fear IRS Appeals Cases May Suffer During Pandemic.” The article notes that IRS Appeals cases may be impacted by the inability of Appeals employees to hold face-to-face meetings during the coronavirus pandemic, among other
Bryan C. Skarlatos quoted in Law360 Tax Authority article entitled “Pandemic Payment Program Will Add Nonfilers To IRS Rolls,” which explored the effects the coronavirus-related stimulus payments may have on the IRS’s ability to “to collect substantially more revenue in the future from individuals who
On March 30, the IRS Small Business/Self-Employed Division’s (“SBSE”) Director of Collection issued a Memorandum for All Collection Executives (the “Collection Memo”) ordering the implementation of a period of suspension of “most collection activities” by the IRS as part of the broader effort to provide
The IRS has created a webpage on IRS.gov designed to answer taxpayer and business questions about stimulus payments and other guidance issued in response to the novel coronavirus pandemic. The webpage is being updated as needed to help individuals and businesses navigate the new guidance,
Caroline Rule’s article, “United States v. Greenfield: A Triumph of the Fifth Amendment’s Act of Production Privilege; or Confirmation that the Privilege Can Be Entirely Abrogated by Any Act of Congress, or Even by a Treasury Regulation?” published in The Tax Lawyer, Winter 2018 (71:2),
On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), which includes tax provisions intended to provide an economic stimulus to both businesses and individuals. The stated policy of the new legislation is to increase cash
In the event of a loss of client records or due to poor record keeping, a tax preparer may need to help his client reconstruct the records and/or make estimates. This session covered tips and ideas on how to handle such issues from tax-return preparation
On March 20, 2020, the IRS issued Notice 2020-18, which provides updated guidance on the extension of the April 15, 2020 tax return filing and payment deadlines due to the Coronavirus pandemic. On March 24, 2020, the IRS issued FAQs to answer various questions regarding Notice
