Federal Tax Update: New Administration Pushes Forward with the CTA

https://vimeo.com/1054799615?share=copy#t=0

https://www.currentfederaltaxdevelopments.com/podcasts/2025/2/8/2025-02-10-new-administration-pushes-foward-with-the-cta

This week we look at:

• IRS issues letter ruling on IRA left to trust
• A taxpayer mistakenly believes the IRS had conceded that his income was not subject to self-employment tax, but it hadn’t
• The Tax Court denies a taxpayer’s deductions and claimed partnership losses due to incredibly disorganized and inadequate records
• Taxpayer runs afoul of the “pay first, litigate later” rule when attempting to sue the IRS for a refund in US District Court in response to an assessment
• A taxpayer’s unprocessed claim for an ERTC refund doesn’t justify CDP relief
• The BOI - new Administration continues litigation and proposes a new due date, potential filing relief