ESTATE NOT LIABLE FOR ACCURACY-RELATED PENALTY

In Estate of Robinson TCM 2010-168, the Tax Court concluded that an estate was not liable for an accuracy- related penalty pursuant to Section 6662(a) because the estate executors good faith reliance on what he reasonably believed to be a competent tax adviser established reasonable cause for the un...

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Bibliographic Details
Published inPractical Tax Strategies Vol. 85; no. 4; p. 180
Main Authors Cryan, T, Keenan, J, Lagun, J, Dees, G
Format Trade Publication Article
LanguageEnglish
Published Boston Thomson Reuters (Tax & Accounting) Inc 01.10.2010
Subjects
Accuracy
Charitable foundations
Enrolled agents
Estate planning
Estate taxes
Fines & penalties
Good faith bargaining
Human error
Liability
Payments
State court decisions
Tax court decisions
Tax courts
Tax planning
Tax returns
United States > US
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Summary:In Estate of Robinson TCM 2010-168, the Tax Court concluded that an estate was not liable for an accuracy- related penalty pursuant to Section 6662(a) because the estate executors good faith reliance on what he reasonably believed to be a competent tax adviser established reasonable cause for the underpayment.
ISSN:1523-6250