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.

Processing payroll doesn't have to feel like a chore. That's why Payroll Relief was built for professionals just like you. See how we're streamlining payroll. ATTEND OUR WEBINAR

Payroll Relief is committed to accountants, provides management tools, is highly comprehensive, and provides unprecedented automation options. Discover what sets us apart from everyone else. LEARN MORE

At AccountantsWorld, we value the crucial role that YOU play in core business services - accounting and payroll - just as much as you do.

That's why, since 2003, we've used the unprecedented power of the cloud to put you back in full control of your accounting and payroll services so you can best serve your clients, while raising your own firm's value and relevance. And we never sell our products or services directly to your clients.