The Court of Appeals for the Ninth Circuit has reversed a district court decision that held that the taxpayers timely filed their refund claim because they met the requirements of the common-law mailbox rule. The Circuit Court Held That Code Sec. 7502's Timely Mailing Rule Supplanted the Common-Law Rule and That IRS's reg under…
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On February 27, 2019 we posted US S.C. To Decide Whether States Can Tax Out-of-State & Foreign Trusts, where we discussed that more than $120 billion of our nation's income flows through trusts and the Supreme Court will hear a case that may clarify how much states are able to tax and that in April, the Supreme Court of the…
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Tax Time Guide wrap-up: Tips on Payment Options, Penalty Waivers, Refunds and More – IR-2019 -60:
The Internal Revenue Service on April 2, 2019 urged taxpayers to file an accurate tax return on time, even if they owe but can’t pay in full. Most taxpayers are being affected by major tax law changes. While most will get a tax refund, others may find that they owe taxes. Those who owe may…
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Know Your Choices to Pay Your Tax Bill! – Part 2
On Friday, March 15, 2019 we posted Know Your Choices to Pay Your Tax Bill! - Part 1 where we discussed Paying in full within 120 days (short-term payment plan) and Installment agreements (long-term payment plan). In this Part 2we will discuss two other alternative for taxpayers who do not have the money to pay…
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