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By Ed Parsons, CPA [Updated May 2026] Short answer: A CPA-led Kwong penalty review should start with the IRS account record, not assumptions from memory, old tax returns, or a single IRS notice. Before deciding whether a refund claim, protective claim, or abatement request may be appropriate, the review should identify the tax periods involved,
Why a CPA-Led Kwong Penalty Review Starts With IRS Transcripts, Not Guesswork Read More »
Kwong Protective Claims, Form 843, and IRS Transcript Review By Ed Parsons, CPA [Updated May 2026] Short answer: A Kwong-related review usually starts by identifying whether the IRS assessed or collected penalties or interest during the COVID-era period, then determining whether a refund claim, protective refund claim, or abatement request may be appropriate. In many
Kwong Protective Claims, Form 843, and IRS Transcript Review Read More »
By Ed Parsons, CPA [Updated May 2026] Short answer: Kwong is a recent federal court decision that may affect certain IRS penalties and interest tied to the COVID-era federal disaster period. The National Taxpayer Advocate has warned that relief will not be automatic and that many taxpayers may need to file a timely claim, generally
What Is Kwong, and Why Prior IRS Penalties May Need a Second Look Read More »