Tax Law360 provides breaking news and analysis on federal, state, and international tax law, with a focus on business enterprises. Coverage includes high-stakes litigation, government enforcement actions, and auditing issues, as well as related policy developments.
The U.S. Senate on Tuesday confirmed a White House lawyer to monitor billions, possibly trillions, in pandemic relief, with just one Democrat joining Republicans to approve the former General Services Administration watchdog.
A Tenth Circuit panel affirmed a $50 million disgorgement order Tuesday for a solar energy company to return profits from promoting an abusive tax scheme that leased useless solar lenses to companies so they could claim solar energy tax write-offs.
Increasing the limit on a tax deduction to encourage charitable contributions would help nonprofits as they assist families and front-line workers during the novel coronavirus pandemic, a bipartisan group of U.S. senators said Tuesday during a web conference.
The Internal Revenue Service has closed some offices because of the nationwide protests and civic unrest following the killing of George Floyd by a Minneapolis police officer, an agency deputy commissioner said Tuesday.
The opportunity zone program created under the 2017 tax reform law could help the novel coronavirus relief effort by providing an incentive for companies that make personal protective equipment to move to the U.S., Sen. Tim Scott, R-S.C., said Tuesday.