The IRS extended its deadline for when it will accept a digital signature on certain forms which had required a handwritten signature. The deadline is extended to:

1. 10/31/2023.
2. 12/31/2023.
3. 12/31/2022.
4. 3/15/2023.

Which law enacted the Centralized Partnership Audit Regime (or CPAR)?

1. Tax Equity and Fiscal Responsibility Act of 1982
2. Inflation Reduction Act of 2022
3. Bipartisan Budget Act of 2015
4. Tax Cuts and Jobs Act

All of the following are factors the courts have used when determining reasonable compensation except:

1. A comparison of the employee's compensation with the compensation paid by dissimilar companies for different services.
2. The employee's qualifications and role in the company.
3. The character and condition of the company.
4. Whether there is any conflict of interest which might permit the company to disguise nondeductible corporate distributions as salary (this is especially an issue where the employee in question is the corporation's sole shareholder).

The 2021 case of Manuelito B. Rodriguez & Pax Rodriguez v. Comm'r serves as a reminder to all taxpayers that:

1. Failure to substantiate every expense claimed on their tax return will result in charges of tax fraud.
2. The taxpayer bears the burden of proof for all income and deductions reported on a tax return.
3. IRS agents are not required to give taxpayers advance notice of an upcoming audit.
4. The tax courts are typically lenient in cases involving small businesses.