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Texas Tax Talk

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By: Gray Reed & McGraw LLP

Blog Authors

Anthony Box
Brian Clark
David C. Gair
Larry Jones
Admin
Cindy M. Pridgen
Tom Rhodus
Joshua Smeltzer

Latest from Texas Tax Talk

Texas Tax Talk

The IRS in 2022: A Work in Progress

By Admin
September 20, 2022

The IRS, like the rest of society, has faced several challenges as a result of the pandemic. Some of those challenges are still lingering, such as funding, backlog, lack of guidance and inexperienced auditors. Efforts to fix these problems are…

Texas Tax Talk

Tony Box Quoted by Law360 on Trump Lieutenant’s Plea

By Admin
August 22, 2022

Former Trump Organization Finance Chief Allen Weisselberg pled guilty last week to 15 felonies for what he admitted was a tax fraud scheme he committed while an executive for Trump’s company. Law360 covered the story and quoted Gray Reed Partner…

Texas Tax Talk

Politically-Motivated Criminal Cases Based on Perjured Testimony Really DO Happen! Even if You Work for the IRS

By Tom Rhodus
August 17, 2022
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Today’s news media is full of stories about supposed malicious allegations, unfounded criminal investigations and indictments based on perjury.

Regardless of our political leanings, all of us should hope that such things are actually exceedingly rare. However, a case decided…

Texas Tax Talk

IRS Continues to Hunt for Cryptocurrency Investors with John Doe Summonses

By Joshua Smeltzer
August 11, 2022
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UPDATE:  On August 15, 2022, Judge Otis D. Write II in the Central District of California entered an order approving service of the summons by the IRS on sFOX for account and transaction records.  The Department  of Justice entered a…

Texas Tax Talk

A Close Look at the Decentralized Effort to Tax Digital Assets

By Admin
July 15, 2022

Cryptocurrency is no longer a new asset — it’s been around since 2009 — and the number of individuals and businesses who own or use cryptocurrency and NFTs, and the underlying blockchain technology, continues to increase with each passing year.…

Texas Tax Talk

IRS Penalty Denied Because of Poor Penmanship

By Joshua Smeltzer
July 14, 2022
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Many people, myself included, can sometimes be accused of poor penmanship. As our paperwork becomes more and more electronic, we write less and less down with pen and paper. However, a recent decision from the tax court may be sending more…

Texas Tax Talk

Protecting Client Information When Using Accountants in Legal Matters

By Anthony Box
July 8, 2022
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It is well-established that attorneys and their clients are entitled to private and protected communications.  But what level of protections are available when an accountant is used in an engagement to provide an area of expertise not possessed by the…

Texas Tax Talk

Supreme Court Will Hear Non-Willful FBAR Penalty Dispute

By Joshua Smeltzer
June 23, 2022
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On June 21, 2022, the United States Supreme Court agreed to hear a dispute involving split decisions among the circuit courts on non-willful penalties. The Fifth Circuit parted ways with the taxpayer friendly decision of the Ninth Circuit that non-willful…

Texas Tax Talk

Fifth Circuit Says No Do-Overs in Oil and Gas Tax Dispute

By Joshua Smeltzer
June 13, 2022
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In some federal tax disputes, if at first you don’t succeed you may not get to try again. A recent Fifth Circuit decision confirms issue preclusion when the parties and the issue are truly the same. See ETC Sunoco Holdings…

Texas Tax Talk

Thoughts on Cryptocurrency and Tax Partnerships

By Brian Clark
April 8, 2022
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Cryptocurrency holders often want to put their assets into an entity for a host of reasons, such as asset protection, arranging negotiated management rights and exit planning.  This post discusses basic federal income tax issues related to holding cryptocurrency inside…

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