Tax Court Finds Conservation Easement Extinguishment Reg Invalid; Rule Violated APA
Ruling for the plaintiff in a conservation easement case, the Tax Court on March 28, held that the IRS’ rule …
SCOTUS Hears Arguments in Estate Tax Life Insurance Stock Redemption Case
The Supreme Court heard oral arguments to settle a circuit court split over whether life insurance proceeds following a shareholder’s …
Corporate Jet Audits: What the IRS Is Looking For
The IRS’ recent announcement of a crackdown on corporate jet usage garnered national attention as the Biden administration continues down …
Proposed Clean Hydrogen Production Credit Guardrails Elicits Mixed Reaction
A set of criteria put forth by the Treasury Department for determining which tier of the clean hydrogen production tax …
Prop Regs: Some CRATs to be Listed Transactions
The IRS has issued proposed regs that would identify certain charitable remainder annuity trust (CRAT) transactions and substantially similar transactions …
IRS Proposes to Amend Rules for Providing Advance Notice of Third-Party Contacts
The IRS has proposed updating the rules for providing taxpayers with advance notice of third-party contacts to conform to the …
Senators Revive Caterpillar Tax Probe Inquiry
Two Senate Democrats asked the head of the Justice Department to shed light on the Tax Division’s prior handling of …
Werfel: Accuracy, Analytics at Heart of IRS Strategy
By using funding from the Inflation Reduction Act (PL 117-169), the IRS can better leverage data to set a more …
Reminder: March 22 Deadline for ERC-VDP; Review Claims to Avoid Penalties, Interest
The IRS has reminded employers that March 22, 2024, is the deadline for the IRS’ Employee Retention Credit (ERC) Voluntary …
Scholars Mull Framework of Potential Renters’ Tax Credit
The American Bar Association hosted a webinar March 12 to consider how a federal tax break for home renters might …