A strict two-year deadline to file a refund lawsuit is approaching for denied Employee Retention Credit (“ERC”) claims, and taxpayers facing recapture on previously issued ERC claims have limited windows to challenge Internal Revenue Service (“IRS”) collection efforts. Furthermore, IRS
G. Gordon Liddy, convicted of several criminal charges for his role in the Watergate scandal, made the statement that “obviously crime pays, or there’d be no crime.” John Maynard Keynes, economist and philosopher, further indicated that “the avoidance of taxes
Full disclosure, I’m an adopted Texan. I wasn’t born or raised in Texas, but my family and I moved from Washington, D.C. in 2007 and I have called it home ever since. Although this fact may, reasonably, color my views,
It’s no secret that spouses, particularly in bad times, may hide things from one another. In fact, there are bodies of cases involving such marital behavior. However, we’ve gotten another recent reminder that such attempts can land you in hot
Artificial Intelligence continues to impact all industries as companies and individuals try and find the perfect balance between automation and sufficient oversight and monitoring. Tax reporting would appear, on its face, to be a prime candidate for the promises of
On Feb. 19, 2025, President Donald Trump issued Executive Order 14219, titled “Ensuring Lawful Governance and Implementing the President’s ‘Department of Government Efficiency’ Deregulatory Initiative.” The primary purpose of Executive Order 14219 is to direct federal agencies to review
The Internal Revenue Service was aware of significant underreporting of cryptocurrency on tax returns and used one of its investigative tools (i.e., a John Doe summons) in 2016 to seek financial information on thousands of individuals, including James Harper. Harper
A recent Tax Notes article highlighted the debate surrounding a Justice Department memo proposing the reassignment of Tax Division lawyers to U.S. attorneys’ offices across the country. Experts weighed in on the potential impact on tax enforcement, with some arguing
Before the introduction of Bitcoin, around 2008, Wells Fargo included the phrase “Banking is necessary. Banks are not” in its 2004 annual report. The adoption of digital assets by traditional banks has been slow, primarily because of regulatory obstacles
The Internal Revenue Service (IRS) recently issued Private Letter Ruling (PLR) 202504006, addressing several important estate and gift tax questions related to the division of a marital trust and the subsequent disclaimer of a surviving spouse’s interest in a portion
