Court Ruling Opens Door to Massive Refunds of Penalties and Interest  

What if you could help clients evaluate a potential path to refunds or abatements for penalties and interest assessed during the federal COVID-19 disaster period? Recent court decisions, including Kwong v. United States, have raised questions about whether the automatic disaster postponement rules under IRC Sec. 7508A may apply more broadly than many practitioners expected.

This course examines how the extended disaster period may affect late filing, late payment, estimated tax underpayment penalties, related interest, protective refund claims, and statute of limitations issues. The discussion also addresses the distinction between mandatory and discretionary postponement periods, the potential use of Form 843, and the uncertainty surrounding whether limitation periods were tolled or suspended/extended.

Materials used for this course were supplied by Spidell's Federal Taxletter.

This overview course may be appropriate for professionals at all organizational levels.

CeriFi CPEdge is committed to bringing innovative solutions to you, now including nano-learning! As per NASBA Standards, a nano-learning course is a 10-minute, electronic, self-study course in which you are eligible to earn 1/5 (or 0.2) CPE credits.

At this time, nano-learning is not accepted by all state boards. If you are not sure whether your state board accepts nano-learning, you can ask your state board or visit the NASBA registry: (nasbaregistry.org).