This week we look at:

• Reasonable Cause Relief Under the Small-Corporation Provision for Form 5472 Penalties
• Extending the Statute of Limitations for Disallowed ERC Claims
• Legislative Update: House Passes Comprehensive Tax Administration and Relief Bills
• Anticipated IRS Guidance Following the Rescheduling of Medical Marijuana
• Analysis of the New Dyed Fuel Excise Tax Refund Regulations Under Section 6435
• Executive Order on Retirement Savings and Its Interaction with IRC Section 6433

This week we look at:

• Tax Implications of the Rescheduling of State-Licensed Medical Marijuana
• Disallowance of COVID-19 Leave Credits: A Review of Substantiation and Trade or Business Requirements
• The Tenth Circuit Codifies the Reach of the Economic Substance Doctrine Over Mechanical Statutory Compliance
• Substantiation, Entity Indebtedness, and Business Expense Deductibility: An Analysis of the Simmons Case
• Treatment of Loyalty Rewards Program Funds and the Claim of Right Doctrine
• Valuation and Penalty Controversies in Estate Tax Examinations

This week we look at:

• A Technical Analysis of the Final Section 224 Regulations on the Qualified Tip Deduction

• Analysis of Proposed Regulations on Information Reporting Thresholds and Wagering Losses (REG-113229-25)

• U.S. District Court Splits Its Ruling on Micro-Captive Disclosure Mandates

• IRS Reduces Enrolled Agent Special Enrollment Examination User Fees: An Analysis of the Interim Final and Proposed Regulations

• Taxation of Terminated Life Insurance Policies: An Analysis of Constructive Receipt and Investment Interest