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Lesson From The Tax Court: No Human Review Needed For Automated Penalties? (TaxProf Blog) - Section 6751(b)(1) prohibits the IRS from assessing any penalty against a taxpayer âunless the initial determination of such assessment is personally approved (in writing) by the immediate supervisor of the individual making such determination... ADVERTISEMENT Share our news via Twitter and Facebook, on your personalized news page. MORE HEADLINES Dealing with Subpoena Requests for Digital Data (JofA) - A CPA firm received a subpoena for the production of its documents related to an S corporation tax return where one shareholder alleged criminal activity on the part of the other shareholder. Businesses with Large Cash Transactions Should Report Them Electronically, Says IRS (CPA Practice Advisor) - Electronically filing Form 8300 is a secure way for businesses to send sensitive information to the IRS. Although many cash transactions are legitimate, information reported on this form can help stop those who evade taxes, profit from the drug trade ... French Tax on Internet giants Could Yield 500 Million Euros per Year (Reuters) - A three percent tax on the French revenue of large internet companies could yield 500 million euros (568.5 million pounds) per year, French Finance Minister Bruno Le Maire said on Sunday. U.S. and China Near Deal That Could End Most U.S. Tariffs (Bloomberg) - Chinese officials made clear in a series of negotiations with the U.S. in recent weeks that removing levies on $200 billion of Chinese goods quickly was necessary to finalize any deal... Taxation Accounting/Audit |  TOP 5 MOST READ TOOLS OF THE TRADE e-BREAKS  Top 10 Things an Accountant Would Never Say   |