August 18, 2022
An estate can't renew its challenge to a $3.2 million tax penalty for failing to report a trust distribution because its arguments for a lighter penalty are foreclosed by a decision from the Second Circuit, a federal court said Thursday.
November 18, 2019
The IRS must return a $3.2 million penalty imposed on an estate for untimely reporting of distributions from a foreign trust because the agency imposed the wrong penalty under the tax code, a New York federal court ruled Monday.
September 05, 2019
The Internal Revenue Service wrongly collected a $3.2 million penalty from a New York man's estate for filing of a form reporting trust distributions late, the estate recently told a federal court.