2024-02-19 Insurers Update BOI Guidance

This week we look at:

• Insurers updating their advice on BOI engagements
• SALT cap 2023 increase bill fails on a procedural vote in the House
• Jury finds taxpayer did not willfully fail to file FBAR reports
• IRS takes position third party payors liable for ERC refund repayment in addition to common law employers
• IRS sending out CP271 “soft letters” to those with open ERC refund claims
• S corporation has a failure of 9 trusts receiving shares from decedent
• Taxpayer unsuccessfully argues she only should pay taxes on social security actually received

An audio only version of this week’s broadcast can be streamed or downloaded below:

This week’s slides and citations can be downloaded as a PDF below:

2024-02-19 Current Federal Tax Developments