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Monthly Archives: November 2016

IRS Un-Resonable In Its Pursuit Of Trust Fund Penalty

According to Law360 a recent U.S. Tax Court case illustrates how aggressive the Internal Revenue Service (IRS) has become in using the trust fund recovery penalty (TFRP) to collect trust fund taxes.   In Fitzpatrick v. Commissioner, T.C. Memo. 2016-199, the taxpayer was the wife of a passive investor in the employer corporation. At the request…
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Trump Presidency Could Be Death Knell For Estate Taxes!

We previously posted President-Elect Donald Trump Is Less Than Ideal for Tax Advisers? where we discussed President-Elect Trump's tax plans, which includes the repeal of the US Estate & Gift taxes. This may be a realistic possibility considering that this is in line with some of the proposals in the Republican House Ways & Means Committee Report…
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