Federal

  • December 05, 2022

    Libertarian Org. Sues IRS Over Tax-Exempt Donor Reporting

    The IRS' collection of the donor information of some tax-exempt entities threatens the privacy of contributors and risks discouraging free speech, a libertarian organization told an Ohio federal court Monday, seeking an exemption from the requirements.

  • December 05, 2022

    Facebook Users Say Meta Collected Tax Info During E-Filing

    Two anonymous Facebook users accused the social media giant's parent company of collecting sensitive information from popular tax filing websites H&R Block, TaxAct and Tax Slayer to feed its advertising algorithm, breaking privacy and taxpayer protection laws.

  • December 05, 2022

    Justices Urged To Let Special Master Revisit MoneyGram Suit

    Pennsylvania's argument for modification of the common law governing unclaimed property is no longer moot, and that concern should be remanded to a court-appointed special master for consideration, a special master advising on a suit over abandoned MoneyGram checks told the U.S. Supreme Court. 

  • December 05, 2022

    Chrisleys To Appeal Bank Fraud, Tax Evasion Sentences

    Todd and Julie Chrisley of the reality television show "Chrisley Knows Best" said Monday they are appealing their convictions and the 12- and seven-year prison sentences they were slapped with in late November after federal prosecutors accused them of carrying out a $36 million bank fraud scheme and evading taxes.

  • December 05, 2022

    Tax Court Nixes Iowa Couple's Understatement Penalties

    An Iowa couple largely do not owe penalties for understating their income taxes after the U.S. Tax Court said Monday that they reasonably relied on a tax adviser to prepare their returns.

  • December 05, 2022

    EU Chief Calls On US To Fix Tax Law's 'Distortions'

    The U.S. and the European Union must act to tackle "distortions" posed by the Inflation Reduction Act, European Commission President Ursula von der Leyen said.

  • December 05, 2022

    Michael Avenatti Gets Another 14 Years For Client Theft

    Michael Avenatti was sentenced to 14 years in prison by a California federal judge Monday for stealing from four clients — to be served after the five-year federal sentence he's currently serving — and was ordered to hand over approximately $8 million in restitution to his victims and $3 million to the IRS.

  • December 05, 2022

    Ex-IRS Criminal Investigation Head Joins Winston As Partner

    A former chief of the Internal Revenue Service's Criminal Investigation division who oversaw significant investigations has joined Winston & Strawn LLP as a partner in its litigation department, the firm announced Monday.

  • December 05, 2022

    Justices Again Turn Down Partnership Procedure Tax Case

    The U.S. Supreme Court won't review its decision declining to consider a man's challenge to an Internal Revenue Service interpretation of a regulation involving partnership tax procedures, the justices said Monday.

  • December 02, 2022

    Biden Tells Justices Texas Judge Erred Axing Debt Plan

    The Biden administration on Friday asked the U.S. Supreme Court to stay a Texas federal judge's ruling that struck down his student debt relief plan, arguing that the lower court relied on a claim that wasn't even asserted by the program's challengers.

  • December 02, 2022

    Biden Goes Too Far With Debt Plan, 17 States Tell Justices

    A group of 17 states led by Utah and Ohio asked the U.S. Supreme Court to reject the Biden administration's request to lift the Eighth Circuit's nationwide injunction on his student debt relief plan, saying the president can't use his position to sidestep the law to fulfill a campaign promise.

  • December 02, 2022

    Former Md. Tax Counsel Embraces New Role As Top FTA Atty

    Brian Oliner became general counsel to the Federation of Tax Administrators in September after serving as the longtime counsel to Maryland’s comptroller, where he defended the state in high-profile litigation and was influential in analyzing tax policy. Here, Law360 recaps his Maryland career and previews his approach to his new role.

  • December 02, 2022

    NY County's Home Septic Payments Not Income, IRS Says

    Homeowners who receive payments from Suffolk County, New York, to upgrade their septic systems don't need to include the payments as income when filing taxes with the Internal Revenue Service, the IRS said Friday.

  • December 02, 2022

    Trump 'Explicitly' Approved Tax Fraud, DA Says As Trial Ends

    Manhattan prosecutors on Friday directly accused former President Donald Trump of authorizing tax fraud by his executives in closing arguments of the criminal trial in New York state court against his Trump Organization companies.

  • December 02, 2022

    12 AGs Ask IRS For Prompt Guidance On Tax, Climate Bill

    Twelve attorneys general asked Treasury and the IRS for "prompt, effective and equitable" implementation of the Inflation Reduction Act, recommending that the government make tax credits for electric vehicles immediately available and impose stringent employer documentation requirements for other incentives.

  • December 02, 2022

    Taxation With Representation: Davis Polk, Blakes, Latham

    In this week's Taxation With Representation, Yahoo Inc. will acquire a minority stake in Taboola, HSBC Holdings PLC will sell its Canadian business to Royal Bank of Canada, Corteva Inc. will acquire Stoller, and a Blackstone real estate investment trust plans to sell its stake in MGM Grand Las Vegas and Mandalay Bay Resort.

  • December 02, 2022

    Robocall Schemer's Estate Owes $4.3M In Taxes, US Says

    The wife of a deceased owner of a telemarketing company shuttered for a massive robocall scheme should pay $4.3 million of the company's outstanding employment taxes because she is the presumed executor of her husband's estate, the U.S. government told a Michigan federal court.

  • December 02, 2022

    IRS Says It Wouldn't Consider Stock Retention A Tax Dodge

    A parent corporation's retention of some common stock from a new subsidiary formed during the separation of two businesses wouldn't be considered part of a tax dodge, the Internal Revenue Service said in a private letter ruling released Friday.

  • December 02, 2022

    Weekly Internal Revenue Bulletin

    The Internal Revenue Service released its weekly bulletin, which included a procedure saying certain large corporate taxpayers can file a new form to disclose errors or omissions on their original returns to avoid accuracy-related and understatement penalties.

  • December 02, 2022

    IRS Seeks Comments On Tax Shelter Advice Rules

    The Internal Revenue Service asked for comments Friday on rules governing how tax professionals should approach advising clients about tax shelters.

  • December 01, 2022

    TIGTA Finds No Wrongdoing In IRS Intensive Audit Program

    An Internal Revenue Service watchdog report released Thursday found the agency randomly selected returns for an intensive audit program that came under fire after revelations that former FBI leaders and critics of former President Donald Trump were chosen for it.

  • December 01, 2022

    Court OKs Summonses In Audit Of Couple's Foreign Interests

    The Internal Revenue Service prevailed in a dispute over summonses in an audit of a married couple's compliance with federal reporting requirements for U.S. taxpayers with interests in foreign corporations, according to a court filing.

  • December 01, 2022

    ​​​​​​​Couple Must Pay $466K Despite Criminal Case, Tax Court Says

    A New Jersey couple cannot have their $466,000 tax bill waived simply by claiming a criminal prosecution against them creates economic hardship, the U.S. Tax Court decided Thursday, upholding an IRS notice to seize the couple's assets unless they pay.

  • December 01, 2022

    US Urges 5th Circ. To Hold Firm On Tax Debt Passport Denials

    International travel isn't a fundamental right, the government told the Fifth Circuit on Thursday, urging it to ignore a Texas man's request to reconsider a panel decision that upheld the constitutionality of his passport revocation after he amassed over $400,000 in tax debt.

  • December 01, 2022

    IRS Corrects Premium Tax Credit Eligibility Rules

    The Internal Revenue Service on Thursday corrected a Treasury decision that amended premium tax credit eligibility rules.

Featured Stories

  • Tax Pros Can't Reach IRS Despite 'Line-Jumping' Deterrent

    David van den Berg

    An Internal Revenue Service pilot program meant to thwart use of commercial so-called line-jumping technology to access the agency's priority phone line for practitioners doesn't appear to be clearly improving access, and other steps could be more effective, observers told Law360.

  • Former Md. Tax Counsel Embraces New Role As Top FTA Atty

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    Brian Oliner became general counsel to the Federation of Tax Administrators in September after serving as the longtime counsel to Maryland’s comptroller, where he defended the state in high-profile litigation and was influential in analyzing tax policy. Here, Law360 recaps his Maryland career and previews his approach to his new role.

  • House Dems Race The Clock After Obtaining Trump's Taxes

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    House Democrats are facing a quickly diminishing window of time to figure out what to do — and what can be done — with former President Donald Trump's tax returns after the U.S. Supreme Court last month cleared the way for the Ways and Means Committee to obtain them.

Expert Analysis

  • Clean Hydrogen Developers Should Track Incentives, Risks

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    Clean hydrogen project developers and investors should be aware of new funding opportunities from the U.S. Department of Energy and tax benefits under the Inflation Reduction Act, but must also guard against risks associated with new and evolving technologies, say Pamela Wu and Kirstin Gibbs at Morgan Lewis.

  • IRS Starts Clock On Energy Projects' Labor Rule Exemption

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    A U.S. Department of the Treasury notice published this week started the 60-day clock for clean energy projects seeking to be grandfathered from having to meet new labor requirements to qualify for enhanced tax credits, and uncertainty about how the provisions will apply should be incentive for some investors to begin construction soon, say attorneys at Eversheds Sutherland.

  • Foreign Tax Credit Proposal Is Some Help, But More Is Needed

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    New foreign tax credit regulations proposed by the U.S. Treasury Department provided some measure of relief on cost recovery and royalty withholding, two of the most troublesome aspects of the 2021 final foreign tax credit regulations, but the final regulations are still harmful to many taxpayers, making litigation inevitable, say attorneys at Fenwick.

  • Anticipating The New Congress' Private Sector Investigations

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    With Republicans claiming a new majority in the House of Representatives in the upcoming Congress, corporates and individuals should expect a sea change in Congress' investigative priorities and areas of focus — and private sector entities can take prudential steps in the near term to best prepare for and mitigate risk, say attorneys at Latham.

  • Tax Equity Requires Reinstating The Home Office Deduction

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    Congress should restore the home office deduction for W-2 workers in the interest of tax equity because permanently remote workers now bear the cost of creating quiet, dedicated work spaces, a pandemic-related shift unforeseen when the deduction was eliminated by 2017's Tax Cuts and Jobs Act, say James Mahon and Samantha Lesser at Becker.

  • Keys To IRA Tax Breaks For US Green Energy, EV Production

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    The Inflation Reduction Act includes three powerful tax incentives for domestic production of renewable energy projects and electric vehicles — but there are key questions that investors and manufacturers must ask when evaluating whether they can take advantage of these incentives, say attorneys at Troutman Pepper.

  • Crypto Case Failed To Clarify Taxation Of Staking Rewards

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    A Tennessee federal court's recent dismissal of Jarrett v. U.S. — after the IRS issued a refund for taxes paid on cryptocurrency and mooted a greater question about the tax treatment of staking rewards — leaves the crypto industry in need of guidance on the IRS’ position, say attorneys at Cadwalader.

  • How The IRS May Define 'Clean Hydrogen'

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    The Internal Revenue Service is still taking comments on how to define "clean hydrogen" for purposes of Inflation Reduction Act tax credits, but developers can look to the IRA's legislative history — as well as the European Union's struggle to define "green hydrogen" — as guideposts, says Ben Reiter at Nixon Peabody.

  • What To Expect From The Post-Midterms Lame-Duck Session

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    Depending on the results of the midterm elections, the upcoming lame-duck session may be the last chance for Congress to enact meaningful legislation for the next several years, so organizations must push through legislative priorities now, lest they are forced to restart their efforts in a much different environment next year, says James Brandell at Dykema.

  • IRS' Tax Gap Statistics Don't Paint A Full Compliance Picture

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    The Internal Revenue Service's recent report indicating a widening tax gap sheds important light on tax compliance, underlines key pressure points and provides insights into how tax administration could be improved; but tax gap estimates also have their limits, says Joyce Beebe at Rice University.

  • Labor Rules Will Unlock IRA Tax Credits' Full Value

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    Companies that make sure to follow the Inflation Reduction Act's unique labor rules will be in the best position to unlock the law's tremendous tax incentives aimed at promoting renewable energy, lowering greenhouse gas emissions and encouraging carbon sequestration, say Nicole Elliott and Timothy Taylor at Holland & Knight.

  • Making The Most Of New Tax Credits For EV Charging Stations

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    The Inflation Reduction Act recently extended, expanded and renewed the tax credits available for electric vehicle charging station projects — but developers must navigate new challenges, including geographic and prevailing wage requirements, to take full advantage of the updated credits, says James English at Clark Hill.

  • Key Income Tax Issues Triggered By Remote Employees

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    A host of fact-specific tax determinations arise in connection with remote work arrangements, from defining working-condition fringe benefit exclusions to nexus-dependent state withholding obligations, complicating compliance for corporate tax counsel and human resources professionals, say Thomas Cryan and Spencer Walters at Ivins Phillips.