This week we look at:

• Fourth Circuit does not agree with view expressed by Seventh Circuit in Menard, Inc. that C corporation reasonable compensation only depends on a reasonable return to investors

• Eleventh Circuit holds that “hobby loss” expenses under §183 are miscellaneous itemized deductions

• Elderly attorney had reasonable cause for failure to file payroll tax returns and timely pay payroll tax liabilities

An audio only version of this week’s broadcast can be downloaded or streamed below:

A copy of this week’s slides and links to articles can be downloaded below:

2023-06-05 Current Federal Tax Developments