Minnesota recently approached a client of a listserve participant with a demand for unfiled
taxes going back to 1989.
1987) (the media does not have a right under the public records law or the First Amendment to obtain copies of unfiled
depositions or to attend such proceedings); Smith v.
Third, when a corporation ceases to exist as the result of a merger, who can sign the corporation's return for the tax year resulting from the merger (or any other unfiled
A number of jurisdictions have taken steps to limit court secrecy through changes in court rules and statutes.(18) For instance, Texas Rule of Civil Procedure 76(a) creates a presumption of openness for court records, including unfiled
discovery that concerns "matters that have a probable adverse effect upon the general public health or safety, or the administration of public office, or the operation of government." A stringent showing is required before secrecy may be imposed, and a public hearing is required before a court may enter a confidentiality order or an order that seals documents.
CPAs must be wary of this 2005 amendment to the Bankruptcy Code (USC Title 11) if a client has a history of unfiled
returns with taxes due for those periods.
Only representatives of Chief Counsel's office can enter into closing agreements that address the tax treatment of issues in unfiled
* A letter to the IRS advising it that the taxpayer is in the process of preparing amended returns or unfiled
This means that if a client approaches a CPA with information about unfiled
tax returns or unreported income, the CPA must still stop the client from "spilling the beans" and refer the client to an attorney.
6651 (a)(1), late-filed (or unfiled
) Federal tax returns are subject to a penalty of 5% per month (4 1/2% during any month that both the failure-to-file and failure-to-pay penalties apply), or fraction thereof, up to a maximum of 25%.
Remember that the assessment and collection statute of limitations doesn't apply to unfiled
Further, if the taxpayer decides to follow the rule of the temporary regulations and treat self-rental income as passive on an unfiled
1994 tax return, is there substantial authority for the position so that the understatement of tax penalty mandated by IRC Sec.