Thursday, March 3, 2022
Bogdanski: The IRS Will Transfer Sooner! No, Not For You.
Jack Bogdanski (Lewis & Clark), The IRS Will Transfer Sooner! No, Not For You.:
I have been digging by means of the tax information of the previous couple of weeks. It is my job. And one of many gadgets that caught my eye was an announcement by the IRS that it is establishing a brand new “quick observe” non-public letter ruling system for company transactions. Non-public letter rulings are the place folks with some huge cash go to get the IRS’s blessing on their offers earlier than they enter into them.
The timing could not be worse for the IRS to be dashing up the method for the well-heeled. The company is at the moment sitting on actually tens of tens of millions of tax returns, filed on paper, that it nonetheless hasn’t gotten to from final yr. I feel there could also be some unprocessed returns mendacity round from the yr earlier than that as properly.
Hey, Commissioner Rettig. If you cannot even course of what the mothers and pops of the world despatched you a yr in the past, you certain as heck should not be diverting sources to creating issues even simpler for the large firms.
https://taxprof.typepad.com/taxprof_blog/2022/03/bogdanski-the-irs-will-move-faster-no-not-for-you.html
