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Formulario 9465SP Internal Revenue Service Irs

Formulario 9465SP Internal Revenue Service Irs

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this is the current federal tax developments for the week of November the 18th 2024 current federal tax developments are brought to you by Kap financial services and B State Society of CPAs am Med doar and this week we have a few things going to be looking at here first among them going to talk about a statement the IRS made at the aicpa fall tax division meeting that not this say the AIC is that the IRS made that they may stop putting taxpayer May rely statements on in propos regulations about why they would stop doing it and uh you know kind of what the consequence of that might be as well we're going to take a look at a case where the tax court rules partnership basis calculations are cumulative in nature and are not Standalone annual calculations this is under IRC section 705a and this involves an issue where a taxpayer in a year that is no longer open for assessment has claimed losses from the partnership in excess of their bases what do you do about that situation how do

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