2024-02-19 Insurers Update BOI Guidance

This week we look at:

  • Insurers updating their advice on BOI engagements
  • SALT cap 2023 increase bill fails on a procedural vote in the House
  • Jury finds taxpayer did not willfully fail to file FBAR reports
  • IRS takes position third party payors liable for ERC refund repayment in addition to common law employers
  • IRS sending out CP271 “soft letters” to those with open ERC refund claims
  • S corporation has a failure of 9 trusts receiving shares from decedent Taxpayer unsuccessfully argues she only should pay taxes on social security actually received

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