Foreign Gift Penalty Suit Partially Survives IRS Attempt to Dismiss
A federal judge has ruled that the IRS has the statutory authority to assess penalties for failing to report large …
5th Circuit holds U.S. FTC’s in-house adjudication of deceptive advertising claim unconstitutional under Jarkesy
By David Carpenter, Esq., Gordon Todd, Esq., and Kenneth Coffin, Esq., Sidley Austin LLP On March 20, 2026, the U.S. …
CPAs Seek Relief on Expanded Executive Compensation Tax
The American Institute of Certified Public Accountants (AICPA) is calling on the IRS to issue immediate transition relief and guidance …
Senate Bill Takes Aim at Corporate Transparency Act
A group of Republican senators has introduced legislation to limit beneficial owner information reporting requirements to foreign entities and owners. …
Benefits of CTC Expansion Bill Vary by Family Type, Analysts Find
A Tax Policy Center (TPC) analysis of the proposed Family First Act (FFA) finds the legislation would reduce taxes for …
Expert Warns ‘Giant Mergers’ Bill Could Affect Mid-Market Deals
A proposed bill aimed at ending tax-free reorganizations for large corporations could have unintended consequences for a broad range of …
Wyden Refers Puerto Rico Tax Incentive Probe to IRS
Senate Finance Committee Ranking Member Ron Wyden (D-OR) has formally referred information from his committee’s investigation into the abuse of …
Tax Practitioner Warns of AI Accuracy, Privacy Risks
While AI can be a powerful tool, tax practitioners should always verify the accuracy of AI-generated output and take steps …
Temporary Dyed Fuel Refund Regs Issued, IRS Seeks Comments
The IRS issued guidance for taxpayers to recover federal excise tax paid on clear diesel fuel or kerosene that is …
Dems Oppose Treasury on Partnership Rules, Refundable Credits
Democratic lawmakers sent separate letters to Treasury Secretary Scott Bessent on April 21, 2026, opposing two Treasury Department proposals: one …