By Andrew R. Roberson, Kevin Spencer and Brian Moore on Sep 9, 2021
Posted In IRS Guidance
The Internal Revenue Service (IRS) released a fact sheet, providing guidance on acceptable methods for taxpayers to electronically or digitally sign certain paper forms that they cannot file electronically. In order to provide taxpayers with greater flexibility during the COVID-19 pandemic, the IRS previously announced taxpayers may use digital signatures for certain forms through the...
By Andrew R. Roberson, Kevin Spencer and Brian Moore on Apr 21, 2021
Posted In IRS Appeals, IRS Audits, IRS Guidance
The Biden Administration has requested a $1.2 billion increase in funding for the Internal Revenue Service (IRS) as part of its proposal for Fiscal Year 2022 (FY 2022) discretionary funding released in a letter from Office of Management and Budget Acting Director Shalanda Young on April 9, 2021. The additional funding would bring the IRS...
By Martha Groves Pugh and Brian Moore on Sep 11, 2020
Posted In IRS Guidance, Tax Reform
On September 4, 2020, the Internal Revenue Service (IRS) and the US Department of the Treasury (Treasury) published in the Federal Register final regulations under section 468A of the Internal Revenue Code (the Code) that address three issues raised by the nuclear electric industry concerning qualified nuclear decommissioning funds (“qualified funds”). These final regulations conclude a many...
By Andrew R. Roberson, Kevin Spencer and Brian Moore on Jun 26, 2020
Posted In IRS Audits, IRS Guidance, Tax Reform, Tax Refunds
In remarks at the NYU Tax Controversy Forum on June 18, 2020, Internal Revenue Service (IRS) officials indicated that the agency is analyzing the use of private foundations for tax planning. Ms. Tamera Ripperda, who is the commissioner of the Tax Exempt and Government Entities (TEGE) Division and previously served as the industry director for the Global...
By Andrew R. Roberson, Kevin Spencer and Brian Moore on Jun 10, 2020
Posted In IRS Appeals, IRS Audits, IRS Guidance, Settlements, Trial Courts
A recent US Tax Court Memorandum Opinion held that a settlement agreement embodied in Internal Revenue Service (IRS) Form 870-AD does not preclude the IRS from reopening an audit and issuing a notice of deficiency. In Howe v. Commissioner, T.C. Memo 2020-78, the Tax Court held that equitable estoppel did not bind the Commissioner to an...
By Andrew R. Roberson, Kevin Spencer and Brian Moore on Jun 8, 2020
Posted In Appellate Courts, IRS Appeals, IRS Guidance
In general, section 6751 requires that a supervisor give written approval before penalties can be asserted against a taxpayer. In Koh v. Commissioner, T.C. Memo. 2020-77, authored by the US Tax Court’s (Tax Court) most recent addition—Judge Travis Greaves—the Tax Court affirmed that an attorney from Internal Revenue Service (IRS) Chief Counsel may be authorized to...
IRC 45Q Credit Under IRS Scrutiny: Government Finds Majority of Carbon Oxide Credits Improperly Claimed
By Andrew R. Roberson, Brian Moore and Kevin Spencer on May 6, 2020
Posted In IRS Guidance, Uncategorized
In response to a series of questions posed in a November 2019 letter from Senator Menendez (D-NJ), the Treasury Inspector General for Tax Administration (TIGTA) issued a letter on April 15, 2020, analyzing carbon oxide credits under Internal Revenue Code (IRC) section 45Q. For tax years between 2010 and 2019, TIGTA found that up to...
By Andrew R. Roberson, Brian Moore and Kevin Spencer on May 1, 2020
Posted In IRS Guidance, Uncategorized
Rev. Proc. 2020-29 temporarily allows taxpayers to submit certain requests for letter rulings and determinations to the Internal Revenue Service (IRS) electronically. Electronic submissions will be permitted until the revenue procedure is superseded or modified, but taxpayers may still make paper submissions. Electronic submissions are permitted for requests for letter rulings, closing agreements, determination letters,...
By Andrew R. Roberson, Brian Moore, Carlyn S. McCaffrey and McDermott Will & Emery on Apr 10, 2020
Posted In IRS Guidance, Tax Refunds, Uncategorized
In Notice 2020-23, the Internal Revenue Service further expanded relief for taxpayers in response to the Coronavirus (COVID-19) pandemic. Individuals, corporations, trusts, estates and other taxpayers that ordinarily would have had a filing, payment or other deadline between April 1, 2020, and July 15, 2020, now qualify for an extension. Access the full article.
By Andrew R. Roberson, Brian Moore and Kevin Spencer on Mar 24, 2020
Posted In Tax Refunds, Trial Courts, Uncategorized
Recently, the US Federal District Court for the Southern District of Iowa in Meredith Corp. v. United States, No. 4:17-cv-00385 (S.D. Iowa Mar. 20, 2020), held that a magazine publisher was entitled to refund of federal income tax based for the Internal Revenue Code (IRC) section 199 domestic production deduction based upon the printing services...