TBC Information Network

Teal, Becker & Chiaramonte offering valuable insights, impressions and commentary on today's financial and business world.

Potential Refund Opportunities for IRS Interest and Penalties Following Kwong v. United States

It is important for you to be aware that a recent federal court decision in Kwong v. United States (“Kwong”) has opened the door for certain taxpayers to pursue refunds of IRS-assessed interest and penalties, particularly in situations involving late payment or estimated tax underpayments during the period between 1/20/2020 and 7/11/2023. While the ruling… [keep reading…]

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