The IRS is warning taxpayers not to claim improper art donation deductions (HERE) and provides tips to help people avoid getting ensnared by an illicit art donation promotion. The IRS says the following about how the scheme...
Uncle Sam’s curiosity is often insatiable. But at least he is willing to wait an additional 90 days, based on a newly proposed rule by the Treasury Department. Of course I’m talking about the new disclosure rules mandated...
There are various interactions of the substance over form doctrine, such as step-transaction, economic substance, sham, among others. As the Federal Circuit reminded us all yesterday, the iterations are not interchangeable....
After announcing the hiring of new agents to audit the “wealthy,” the IRS marches further down the war path by establishing a special pass-through organization to help with high-income compliance efforts. Yesterday, the...
Just last week, the IRS announced that it was no longer processing any new Employee Retention Credit (ERC) claims amid a surge in questionable claims. We wrote about the IRS moratorium here. While there may be...
Signup to receive the latest blog posts in your inbox!
You have successfully joined our blog list. You'll receive an email from us when we post a new blog!
nationally-recognized
tax powerhouse. Our Capabilities