Shulman: Look-Back Rules a Thing of the Past?

In remarks to the National Press Club, IRS Commissioner Douglas Shulman clarified that federal tax returns are due by April 18th whether or not the federal government shuts down.  Shulman also elaborated on plans to change tax administration dealing with look-back rules.  Shulman noted the uncertainty of look-back rules for taxpayers at the time of filing.  As a result, Shulman says the IRS is working "more aggressively . . . to resolving issues right up-front at the time of filing."

See http://www.irs.gov/newsroom/article/0,,id=238204,00.html.

Posted by James G. Haskell, Senior Associate Editor, Wealth Strategies Journal.