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Lesson From The Tax Court: The Finality Of Closing Agreements

(TaxProf Blog) - Section 7121 authorizes the IRS to enter into “an agreement in writing” with taxpayers “in respect of any internal revenue tax for any taxable period.” Such agreements are called “Closing Agreements.” As implied by that name, the big idea here is that such agreements are meant to “close” a particular tax issue or a particular tax year or years.


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How to Create a Scalable Firm 
(CPA Practice Advisor) - Scaling should begin with you standardizing your entire workflow and documenting everything.

AICPA Asks IRS to Expand Penalty Relief 
(JofA) - The AICPA, in a letter to the IRS, urged the Service to expand the relief under Notice 2022-36 to include several other Code sections and forms and to extend the deadline for requesting relief to Dec. 31, 2022.

Congress And IRS Need To Focus On Those Backlogged Employee Retention Credit Claims 
(Forbes) - A recent Treasury Inspector General report on ERC claims underscores the need for IRS to prioritize taxpayer services and processing with the new funding Congress has provided.

CFO Leadership: Navigating Volatility While Aiming for Growth 
(CFO) - To create value from volatility, successful leaders are honing three types of edge: insights, commitment, and execution.

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