This week we look at:

• Navigating the 90-Day Deadline for Employment Tax Redeterminations: The Belagio Fine Jewelry, Inc. Case and Equitable Tolling

• GWA, LLC v. Commissioner: Substance Over Form and the Nuances of Tax Elections for Disregarded Entities

• Notice 2025-23: Treasury and IRS Signal Withdrawal of Basis Shifting TOI Regulations and Related Penalties

• Hobby Loss and Failure to File: A Deep Dive into Himmel v. Commissioner

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

Articles on this week’s developments can be downloaded as a PDF below:

2025-04-21 Current Federal Tax Developments