McDermott Will & Emery
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Huge Win for Refined Coal: DC Appeals Court Permits Tax Credits
By Kevin Spencer and McDermott Will & Emery on Aug 16, 2022
Posted In Appellate Courts, Court Procedure Matters, Trial Courts
On August 5, 2022, the US Court of Appeals for the District of Columbia Circuit upheld the US Tax Court’s bench opinion in favor of partners and investors in a refined coal business. The Internal Revenue Service (IRS) has consistently fought taxpayers’ attempts to claim a tax credit for refining coal despite a clear congressional...
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Amici Support Whirlpool’s Request for Supreme Court Review
By Robert Levin and McDermott Will & Emery on Aug 8, 2022
Posted In Appellate Courts, Court Procedure Matters, Trial Courts
As we previously discussed, toward the end of June Whirlpool Financial Corporation & Consolidated Subsidiaries and Whirlpool International Holdings S.a.r.l. & Consolidated Subsidiaries (collectively, Whirlpool) asked the Supreme Court of the United States to review the US Federal Circuit Court of Appeals for the Sixth Circuit’s decision that income earned by a Luxembourg controlled foreign...
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Is the IRS Finally Receiving Increased Funding?
By Kevin Spencer and McDermott Will & Emery on Jul 28, 2022
Posted In IRS Audits, IRS Guidance, Tax Refunds
After months of back and forth, it appears that additional funding is on its way to the Internal Revenue Service (IRS). Senate Majority Leader Chuck Schumer (D-NY) released a statement yesterday on his agreement with Senator Joe Manchin (D-WV) on the FY2022 Budget Reconciliation legislation and plans to hold a vote in the US Senate...
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IRS Releases Five-Year Strategic Plan with Emphasis on Enforcement
By Sarah M. Raben and McDermott Will & Emery on Jul 26, 2022
Posted In IRS Audits, IRS Guidance, Tax Reform
The Internal Revenue Service (IRS) released its five-year strategic plan (Strategic Plan) for 2022 – 2026, laying out four major goals: Service: Provide quality and accessible services to enhance the taxpayer experience Enforcement: Enforce the tax law fairly and efficiently to increase voluntary compliance and narrow the tax gap People: Foster an inclusive, diverse and...
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IRS Continues Hiring Trend; Looks to Add over 400 Revenue Agents in the SB/SE Division
By Kevin Spencer, Evan Walters and McDermott Will & Emery on Jul 18, 2022
Posted In IRS Guidance
The Internal Revenue Service (IRS) recently announced that it will hire 470 new revenue agents into the Small Business Self Employed (SB/SE) division. This effort is part of a larger IRS staffing initiative, following a January 2022 announcement that the IRS plans to hire 200 lawyers to assist with litigation efforts, a March 2022 announcement...
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Sixth Circuit Denies Proceeds Regulation Rehearing Request, Sets Up a Circuit Split
By Sarah M. Raben and McDermott Will & Emery on Jul 13, 2022
Posted In Appellate Courts, Court Procedure Matters, IRS Guidance, Trial Courts
The US Court of Appeals for the Sixth Circuit recently denied a taxpayer’s request for a rehearing en banc in Oakbrook Land Holdings, LLC v. Commissioner, No. 20-2117, leaving a highly contested conservation easement regulation in place and setting up a split between the Sixth and Eleventh Circuits. In Oakbrook, the taxpayer argued that Treas....
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Will the Supreme Court Rule on Whirlpool’s Subpart F Income Case?
By Kevin Spencer and McDermott Will & Emery on Jul 6, 2022
Posted In Appellate Courts, Court Procedure Matters, IRS Guidance, Trial Courts
A war is currently waging in the tax world over when courts should give deference to the US Department of the Treasury’s regulations. (We have written extensively on this subject here and here.) However, another potential war looms: Can courts disregard validly promulgated regulations relied on by taxpayers in favor of their own statutory interpretation?...
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The “Major Questions Doctrine”: Another Tool to Challenge Tax Regulations?
By Kevin Spencer and McDermott Will & Emery on Jul 1, 2022
Posted In Court Procedure Matters, State Controversy
Debates have raged in recent years over the future of Chevron deference, particularly given the change in the makeup and views of the Supreme Court of the United States. We have written extensively on Chevron deference in the past (see here, here and here, for example). Although the Court has not addressed the continuing viability...
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Judge Kathleen Kerrigan Begins Term as Tax Court’s Chief Judge
By Kevin Spencer and McDermott Will & Emery on Jun 3, 2022
Posted In Court Procedure Matters, Trial Courts
On June 1, 2022, Judge Kathleen Kerrigan began her two-year term as Chief Judge of the US Tax Court. Her election as Chief Judge was announced earlier this year and covered on the blog here. Chief Judge Kerrigan replaces Judge Maurice B. Foley, who served as Chief Judge from June 1, 2018, through May 31,...
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IRS Appeals Acknowledges Massive Backlog of Cases, Shares Plan to Catch Up
By Kevin Spencer and McDermott Will & Emery on May 24, 2022
Posted In IRS Appeals, IRS Guidance, Settlements
In a memorandum dated April 19, 2022, the Internal Revenue Service’s (IRS) Independent Office of Appeals (IRS Appeals) acknowledged that it has a large backlog of cases that is slowing down the process of resolving cases with taxpayers. In the memorandum, IRS Appeals details its multipoint plan to get back on track. Apparently, there is...
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