Form 1120-RIC Vancouver Washington 2024-2025

Form 1120-RIC Vancouver Washington: What You Should Know

What the U.S. Tax Court Just Did (with more to follow) The U.S. Tax Court ruled in a 5-4 decision that the Internal Revenue Service was wrong when it denied an extension of the deadline to file returns under the Internal Revenue Code's (IRC) IRC Section 6501 for certain tax returns. The decision in Burt v. Commissioner, No. 14-2123, is as follows: The Internal Revenue Service is in violation of IRC Section 6501(a)(1) for requiring individuals to file returns under Code section 1120 (IRC Section 1120) on or before April 15 or before July 15. IRC Section 6501(a)(2) says that the taxpayer is entitled to an extension of the filing date if the filing is due after April 15 but before July 15. The Commissioner's interpretation of (a)(2) is erroneous because the statute plainly provides that there is no extension of the deadline. IRC Section 6501(a)(2) is not a statute of limitations and does not restrict the Commissioner from extending the filing date. In his written ruling, the Chief Judge of the United States District Court for the District of Columbia, Judge Robert S. Wilkins, rejected the Commissioner's ruling that the Internal Revenue Code does not provide for extensions of filing deadlines. Therefore, the judge declared Section 6501(a)(5) to be unconstitutional. This ruling of Judge Wilkins in the case of Burt v. Commissioner, No. 14-2123, is a very important ruling by the U.S. Tax Court for all taxpayers because it is important for taxpayers to learn the proper interpretation of the Internal Revenue Code's definition of the filing date for the purpose of filing the U.S. tax return under IRC Section 1120. It is important for IRS agents to understand that Section 6501(a)(5) does not limit the Commissioner's ability to extend the filing date for Section 6871(a)(2) returns. The court declared Section 6501(a)(5) invalid and not a statute of limitations. The IRS will have no recourse to extend the filing deadline for Section 6872(a)(2) returns after April 15 with respect to (a)(2) taxpayers. Therefore, the IRS will no longer extend the deadline for filing Section 6871(a)(2) returns in regard to Section 6501(a)(5)(C).

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