Reasonable Cause News Today

The Bombay High Court has held that the error on the part of the auditor cannot be rejected but should be accepted as a reasonable cause shown by the trust management. The bench of Justice K. R....

On Tuesday, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a procedural rule streamlining the designation proceedings for nonbank supervision based on a particular...

On finding that the assessee has failed to make out a case of reasonable cause much less sufficient cause for an abnormal delay of more than six years in filing the appeal, the Indore ITAT...

Many taxpayers who owe money to the IRS, either as an individual or as a business, feel trapped in a stressful situation without resolution. With the IRS planning to step...

On February 23, the Consumer Financial Protection Bureau announced its first decision designating a nonbank lender for supervision based on potential risk to consumers. As the CFPB...

As part of the routine administration of employee benefit plans, shortly after the end of a calendar year, many transactions must be reported to the federal government (“information...

Generally, taxpayers fall within the contours of reasonable cause if they can show that they exercised ordinary business care and prudence—for example, with respect to...

A recent United States Tax Court memorandum decision demonstrates once again the importance of understanding the rules for timely filing your tax return. See John P. Zaimes v....

Sally Lane, mother of Jack Letts, who was accused but never proven to be a terrorist, offers a chilling account of how her family entered into the statistics of convicted terrorists in the UK

The Bombay High Court recently held that a plaintiff in a commercial suit seeking to amend his plaint to place documents on record must show reasonable cause for not disclosing the documents in the...