This week we look at:

• IRC Section 7433 and the Scope of the Collection Waiver of Sovereign Immunity

• The Claim of Right Doctrine Applied to Business Errors

• IRC Section 7433: Reinforcing Collection vs. Assessment Distinction

• Selected issues from The One, Big, Beautiful Bill’s tax provisions

• Proposed Changes to the Section 199A Qualified Business Income Deduction

• Proposed Changes Affecting Passthrough Entities and State PTE Taxes

• Interest Deductions and Penalties in Complex Financial Transactions

An audio only version of this week’s update can be streamed or downloaded below.

A PDF with articles on this week’s developments can be downloaded below.

2025-05-19 Current Federal Tax Developments