NIL Collectives Blocked by IRS From Claiming Tax-Exempt Status
The IRS has become stricter in disallowing applications for tax-exempt status filed by organizations created to facilitate name, image, and …
TIGTA: Digital Asset Form Delay Hindering IRS Compliance Enforcement
Without a dedicated information return, the IRS’ “line of sight” into digital asset transactions is limited because of a lack …
Tribune, IRS Spar Over Loper Bright in Anti-Abuse Case
In a dispute between the IRS and a media company over the tax consequences of a disguised sale of a …
Wyden, Crapo Push to Fill Tax Court Vacancies
As the Tax Court nominees approved by the Senate Finance Committee last month await full Senate consideration, the committee considered three more …
Treasury: $1B Past-Due Tax Debt Collected From High Earners So Far
The Treasury Department and the IRS announced that it has collected $1 billion from “high-income, high-wealth” individuals through an enforcement …
Ways and Means Passes Joint Resolution Blocking EV Final Regs
A joint resolution under the Congressional Review Act formally disapproving of final IRS regs implementing Inflation Reduction Act (PL 117-169) tax credit …
Lawmakers Push for Enhanced Paid Family and Medical Leave Credit
A recently introduced bipartisan House bill (HR 8860) would extend and enhance a tax credit under Code Sec. 45S available to employers …
Chief Counsel to Focus on ‘Transactions of Interest,’ Rollinson Says
The IRS Office of Chief Counsel is focusing its expansion and reorganization efforts to specialize in certain tax areas ripe …
SCOTUS Revives Whistleblower’s Claim After Chevron Overturned
The Supreme Court vacated a judgment denying an IRS whistleblower’s award claim, citing its recent decision on agency deference. The …
Moore Attorney: Supreme Court ‘Validated’ Income Realization Arguments
In the wake of the Supreme Court’s decision upholding the constitutionality of the one-time mandatory repatriation tax (MRT), an attorney …