Current Federal Tax Developments

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2022-07-18 Lack of a 1099 and Reasonable Cause

This week we look at:

  • Reconciliation bill talks stall in Congress

  • Taxpayer loses on charitable contribution deduction due to failure to give entire interest and lacking proper acknowledgment for donation to donor advised fund

  • Taxpayer not allowed to shorten statute for collections based on shortcomings in own OIC filings

  • No reasonable cause for failure to report distribution when 1099-R sent to wrong address

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2022-07-18 Lack of a 1099 and Reasonable Cause Edward K. Zollars, CPA (Kaplan Financial Education)

A PDF with articles for this week’s update can be downloaded below:

2022-07-18 Current Federal Tax Developments