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Tax Update: CP2100 Letters, B Notices, and IRC 1202 Stock

Ratings and Review

4.5

70 Ratings

Excellent

39

Very Good

27

Average

1

Poor

2

Terrible

0

JG

Jonathan Gentry, CRTP, Tax Professional

Jul 26th, 2023

It was informative on things I have seen yet.

BS

Brian Smith, CPA (US)

Jun 8th, 2022

Great update!

DH

David Hardy, CFE, CIA, EA

Jun 15th, 2022

The presenter on CP2100 was incorrect or not fully correct about statements on the B Notice. First he states multiple times the notice is issued for 1099s because the SS# is wrong. The notice can be issued if the name or TIN does not match. It is not just the SS#. He also states in one of the slides that you have 15 days to issue the B Notice to the impacted party which is incorrect. One has 15 business days. The presenter also fails to mention the second part of the B Notice process called the 972CG which the business will have to show what actions the business took to resolve the B Notice or face penalties for not proving they took the required action. The presenters jumped from one topic to another and back when they should have completed on topic before going to the other.

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Subject Area

Taxes

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