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By on July 24, 2023
On July 21, IRS Chief Counsel released a Generic Legal Advice Memorandum (GLAM) regarding "Whether an Employer Experienced a Full or Partial Suspension of the Operation of a Trade or Business under Section 2301 of the Coronavirus Aid, Relief, and Economic Security Act or Section 3134 of the Internal Revenue Code due to a Supply Chain Disruption."
IRS Agents Getting Too Big For Their Britches
By on July 20, 2023
It appears Republicans on the Senate Finance Committee think that IRS agents are "getting too big for their britches." In a July 18 letter to IRS Commissioner Daniel Werfel the lawmakers asked for information about three separate allegations of IRS agent misconduct.
IRS Criminal Investigation Targeting Puerto Rico Act 20/22/60 Participants
By on July 19, 2023
On July 14th, the IRS released a thank you to the Inflation Reduction Act highlighting its improved service, plans for updating its technology and enforcement initiatives. The enforcement initiatives in the announcement focus on high-income filers including millionaires who don't pay their tax or have unfiled tax returns, and millionaires who are attempting to evade paying their taxes.
Chat GPT: IRS Friend, Foe, or Both?
By on July 12, 2023
Undoubtedly one of the hottest topics of 2023 has been ChatGPT and what role it can play, or should it play, in the workforce. Whatever your thoughts, precaution is an absolute necessity as it relates to tax and IRS matters.
IRS Criminal Investigation of Malta Pension Plan
By on July 5, 2023
Last week the IRS' interest in the Malta Pension Plan (MPP) took a very serious turn as IRS Criminal Investigators started contacting professionals and taxpayers who participated in MPPs. The first indication of IRS interest in MPPs was when MPPs were included on the 2021 IRS Dirty Dozen list.
