Nov 2, 2022

Supreme Court Hears Businessman’s Appeal After IRS Increases Penalty for Paperwork Mistake by 5,400 Percent

A businessman whose initial fine of $50,000 for violating an obscure tax-filing rule ballooned to $2.72 million at the insistence of the IRS urged the Supreme Court on Nov. 2 to reduce the fine. The case came as the Biden ...