Crypto Exchange On the Hook to Comply With IRS Summons, Court Orders
A crypto exchange platform must supply the IRS with summonsed identifying and transaction information about certain customers in connection with …
Reminder: Time Is Running Out for Taxpayers to Claim 2019 Refunds
Time is running out for taxpayers to claim a 2019 refund, according to an IRS News Release. Taxpayers owed a …
Senators Seek Guidance on Fannie Mae, Freddie Mac Tax Status
A bipartisan group of senators are requesting written U.S. Treasury guidance clarifying that the Government Sponsored Enterprises (GSEs), Fannie Mae and Freddie …
Additional IBOR Interest Rate Replacement Regs Issued
The IRS has issued final regs that provide guidance on the transition away from the use of interbank offer rates …
Seaview Trading, A Cautionary Tale
By Jonathan D. Grossberg In Seaview Trading, LLC v. Comm., (CA 9 2023) 31 AFTR 2d ¶2023-476, the en banc Ninth Circuit …
Democrats Sign Off on IRS Direct File as Fix to ‘Broken System
A group of 99 Democratic lawmakers expressed their support of an in-development pilot program at the IRS to allow taxpayers …
Supreme Court Takes Up Constitutional Challenge to TCJA Transition Tax
The Supreme Court will hear a couple’s case where the taxpayers, who both owned shares in a controlled foreign corporation …
NTA: 2023 Filing Season a Massive Improvement Over Last Year
In her statutorily mandated midyear report to Congress, National Taxpayer Advocate Erin Collins shared that the IRS is doing a …
Client Update: Deducting Business Travel Expenses
Like a lot of tax rules, the rules regarding business travel expense deductions can be confusing. This Client Update discusses some things …
JCT: Revenue Effects of Global Minimum Tax ‘Highly Uncertain’
Tax Receipts could either rise or drop by billions depending on which countries, including the United States, implement a proposed …