As William Faulkner observed in Requiem for a Nun, “[t]he past is never dead. It’s not even past.” While not aimed specifically at taxpayers and practitioners, Faulkner’s observation is nonetheless relevant to tax procedure.
The Seventh Circuit recently demonstrated this in United States v. Titan International, Inc., 2106 U.S. App. LEXIS 1687 (7th Cir. Feb. 1, 2016), an appeal from a summons enforcement proceeding. The taxpayer had taken an operating loss carry-forward in 2010 and the relevant loss had occurred in 2009. Titan Int’l, 2106 U.S. App. LEXIS 1687 at *1. The IRS sought the taxpayer’s records for the 2009 tax year, which it had already inspected in auditing its 2009 return.… Read More