Tax Law

Recent Posts

Videocast: Consolidated complexities – state corporate income tax implications of IRC § 163(j)
Posted on 18 Dec 2018 by Eversheds Sutherland LLP

The November 26, 2018, release by the Internal Revenue Service of proposed regulations (REG-106089-18) related to IRC § 163(j) has provided some clarity for federal income taxpayers. But the regulations’ treatment of federal consolidated groups gives... Read More

Leslie Schneider on Taxation of Inventories, LIFO, IFRS, and M&A - LexisNexis® Tax Law Community Podcast
Posted on 14 Feb 2012 by LN Tax Law Staff

On this edition, Leslie Schneider of Ivins, Phillips & Barker, Chartered, discusses the status of last-in-first-out (LIFO) tax accounting and international financial accounting standards (IFRS). Mr. Schneider also analyzes the treatment of sales-based... Read More

What You Should Know About FBAR Penalty Mitigation
Posted on 18 Dec 2012 by Karen Yip

By Karen Yip, LexisNexis Federal & International Tax Analyst The IRS requires the Report of Foreign Bank and Financial Accounts, TD F 90-22.1 (commonly known as the Foreign Bank Account Report, or "FBAR"), when a U.S. person has a financial... Read More

What You Should Know About FBAR Penalty Mitigation
Posted on 1 Mar 2012 by Karen Yip

By Karen Yip, LexisNexis Federal & International Tax Analyst The IRS requires the Report of Foreign Bank and Financial Accounts, TD F 90-22.1 (commonly known as the Foreign Bank Account Report, or "FBAR"), when a U.S. person has a financial... Read More

Sutherland Legal Alert: Bringing Certainty to an Uncertain Tax Position: IRS LB&I Directive Addresses Partial Worthlessness Deductions Claimed by Insurance Companies
Posted on 19 Sep 2012 by Sutherland Asbill & Brennan LLP

By Bill Pauls and Michael Miles, Sutherland Asbill & Brennan LLP On July 30, 2012, the IRS Large Business & International (LB&I) Division issued guidelines intended to reduce the controversy associated with partial worthlessness deductions... Read More

IRS Issues Guidance for Schedule UTP Concise Descriptions
Posted on 21 May 2012 by Asbury Law Firm

The IRS revised the Instructions for Schedule UTP in early February, but one thing that it did not change was the definition of the concise description required to accompany each uncertain tax position. The IRS later publicly expressed concerns over the... Read More

Sutherland Legal Alert: The House Always Wins: Treasury and the IRS Offer a Loaded Deck of Regulations Addressing Global Reshufflings
Posted on 21 Jun 2012 by Sutherland Asbill & Brennan LLP

By Robb Chase, Reggie Clark, Jeff Mace, Michael Miles, Carol Tello, Karl Zeswitz, Saren Goldner, and Bill Pauls, Sutherland Asbill & Brennan LLP On June 7, 2012, Treasury and the Internal Revenue Service (the IRS) issued much-anticipated final... Read More

Ninth Circuit Oral Argument on Act of Production Doctrine
Posted on 19 Sep 2012 by Jack Townsend

The Record, a California legal publication, reports on oral argument in a case involved the act of production doctrine which says, in effect, that although the contents of documents may not be privileged, a witness under compulsion to produce the documents... Read More

IRS Releases FAQs on Notice to Terminated Participants with Deferred Vested Benefits Reported on the New Form 8955-SSA
Posted on 12 Jan 2012 by Ballard Spahr LLP

The Internal Revenue Service has released a new set of frequently asked questions (FAQs) on the requirement to provide notice to participants in pension, 401(k), 403(b), and other retirement plans who have terminated employment with the plan sponsor,... Read More

Tax Court Collection Due Process Standard of Review Upended by the First Circuit
Posted on 26 Jun 2012 by Asbury Law Firm

In a decision that could dramatically change collection due process, the First Circuit Court of Appeals held that the standard of review applied to collection due process cases by the Tax Court for more than a decade is incorrect. In Dalton v. Commissioner... Read More

The Taxman Cometh: IRS Audit Focus on Middle Market Companies
Posted on 5 Apr 2012 by Asbury Law Firm

In a recent speech at the mid-year conference of the Tax Executives Institute, IRS Deputy Commissioner Steven T. Miller laid out the framework for the future of IRS corporate audits. To borrow Mr. Miller's own assessment, this is bad news for large... Read More

Tax Court Finds IRS Compliance Officer Liable for Civil Fraud Penalty
Posted on 10 Jul 2012 by Jack Townsend

Readers interested in the risks of being audited with respect to income tax noncompliance arising from foreign assets (particularly financial accounts) often ask what it takes for the IRS to prove fraud. I am aware of no standard litmus test of civil... Read More

Trust Fund Tax Convictions Affirmed
Posted on 27 Apr 2012 by Jack Townsend

In United States v. DeMuro, ___ F.3d ___, 2012 U.S. App. LEXIS 8094 (3d Cir. 2012) , enhanced opinion available to lexis.com subscribers, (Non-subscribers can download the unenhanced official opinion here ), the Demuros, husband and wife, were convicted... Read More

What You Should Know About FBAR Penalty Mitigation
Posted on 1 Mar 2012 by Karen Yip

By Karen Yip, LexisNexis Federal & International Tax Analyst The IRS requires the Report of Foreign Bank and Financial Accounts, TD F 90-22.1 (commonly known as the Foreign Bank Account Report, or "FBAR"), when a U.S. person has a financial... Read More

Leslie Schneider on Taxation of Inventories, LIFO, IFRS, and M&A - LexisNexis® Tax Law Community Podcast
Posted on 14 Feb 2012 by LN Tax Law Staff

On this edition, Leslie Schneider of Ivins, Phillips & Barker, Chartered, discusses the status of last-in-first-out (LIFO) tax accounting and international financial accounting standards (IFRS). Mr. Schneider also analyzes the treatment of sales-based... Read More