Taxes

It’s October, so we’re thinking about… tax season? Even though that doesn’t feel like it should be right, it is. The next tax season is just a few months away, which means it’s the perfect time to start thinking about how to prepare. For taxpayers, that should mean reaching out to tax and financial professionals

Disputes focused on “syndicated” conservation easement transactions have existed for years, but they are far from repetitive for several reasons. One is that taxpayers organizing partnerships whose options include donating an easement tend to closely follow guidance issued by the Internal Revenue Service (“IRS”), court decisions, and other sources. Then, they attempt to avoid potential

In the first of a two-episode series, Tim Jacobs of Hunton Andrews Kurth discusses the energy credits enacted in the Inflation Reduction Act and the major pieces of guidance released so far. This transcript has been edited for length and clarity. David D. Stewart: Welcome to the podcast. I’m David Stewart, editor in chief of

There is a big data revolution quietly brewing inside the U.S. Federal Reserve that’s going to fundamentally change the way corporate tax is reported and collected in this country. It’s called e-invoicing, and it will make it possible for the government to collect detailed transactional data in real-time, automatically at the point of each commercial

Tax laws are created by Congress, with the Internal Revenue Service (“IRS”) often required to add details by issuing regulations, Revenue Procedures, Notices, and the like. Sometimes though, input from those two sources is not enough; courts must intervene to address voids in or disagreements about the rules. Unfortunately, courts cannot render decisions on important

In a pivotal scene in the movie On The Basis Of Sex, Judge Doyle, portrayed by Gary Werntz, advises, “The word “woman” does not appear even once in the U.S. Constitution.” Ruth Bader Ginsburg, played by Felicity Jones, coolly responds, “Nor does the world “freedom,” Your Honor.” That exchange is from the very real case

“I want to be a dad again at 90, and I don’t need Viagra.” That quote is from U.K. billionaire Bernie Ecclestone, the iconic former boss of the Formula One motor-sport empire. It’s a peculiar lede for an article about international tax, but then Ecclestone is not your average businessman. The phrase “salt of the

The IRS recently made an important announcement on October 19, 2023 regarding the withdrawal process for Employee Retention Credit (ERC) claims. This announcement has left many individuals and businesses wondering whether they should withdraw their claim or not. This decision is especially crucial for those who have used the services of an “ERC Mill” to

Congress created a big incentive for restaurants and bars to report employees’ tips, which can be good for workers, too—even if many don’t believe it. So why hasn’t it done the same for the largely female-owned beauty industry? By Kelly Phillips Erb, Forbes Staff The holidays are coming and Paige Garland, co-owner of Rachel’s Salon

Last month, IRS Commissioner Danny Werfel announced a series of taxpayer initiatives described as a “top to bottom review of enforcement work” at the IRS, thanks to increased dollars from the Inflation Reduction Act. The Act significantly boosted funding for the IRS, guaranteeing tens of millions of dollars over its operating budget for improvements and