Skip to Content
Insights Penalties

Hurricane Irma Tax Deadline Relief

September 18, 2017 Penalties

The Internal Revenue Service has announced that tax relief will be available to individuals who live in, and businesses whose principal place of business is located in, 37 different Florida counties affected by Hurricane Irma, including Sarasota and Manatee counties. Taxpayers who live outside the disaster area may also qualify…

Tax Court Holds that Good Faith Reliance on Long-Time Attorney (Not a Tax Expert) is Sufficient to Establish Reasonable Cause and Avoid Penalties

May 8, 2015 Penalties

In CNT Investors, LLC v. Commissioner, 114 T.C. No. 11 (2015), the Tax Court recently held that a retired mortician reasonably relied on the advice of his long-time corporate and estate planning attorney in participating in a Son-of-BOSS tax shelter transaction to divest real estate holdings. Although the court ruled that…