Taxes
IRS Disallows 20,000 ERC Tax Refund Claims As Enforcement Tightens
As part of continuing efforts to combat dubious Employee Retention Credit (ERC) claims, the Internal Revenue Service is sending an initial round of more than…
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IRS Disallows 20,000 ERC Tax Refund Claims As Enforcement Tightens
As part of continuing efforts to combat dubious Employee Retention Credit (ERC) claims, the Internal Revenue Service is sending an…
Taxing Carbon At The Border
Tax Notes chief correspondent Amanda Athanasiou discusses the growing global popularity of carbon border adjustment mechanisms, the EU’s new regime,…
Despite Deficit Handwringing, Congress Proposes More Spending And Tax Cuts
Want to know why the budget deficit is enormous and growing? One reason is that when one political party in…
In SCOTUS Moore Case, Taxation Without Receipt Of Cash Is Fair Game
The U.S. Supreme Court will soon hear oral arguments in a case that raises a question most people have likely…
Tax Court Finds That Silent Settlement Agreement Means Big Tax Bill
Litigation is time-consuming and expensive. It is therefore no surprise that most litigation concludes, not by trial, but rather through…
In SCOTUS Moore Case, Taxation Without Receipt Of Cash Is Fair
The US Supreme Court will soon hear oral arguments in a case that raises a question most people have likely…
Building Housing Lowers Prices But “Supply Skeptics” Don’t Believe It
As housing prices continue rising, even in the face of high interest rates, there are many calls to increase housing…
Options To Improve Child Tax Credit For Low-Income Families: An Update
As another year comes to a close, families are again waiting to see if Congress will expand the Child Tax…
The (Foreign) Gift That Keeps On Giving – IRS Penalties
Gifting sounds nice in theory, but it can be complicated in practice, particularly when it comes to transfers by or…
IRS Doesn’t Need The Blocked Income Tax Regulations In Coca-Cola
The Tax Court’s new opinion deciding the blocked income question raised in Coca-Cola v. Commissioner, T.C. Memo. 2023-135, suggests that…
Most Married Couples File Taxes Jointly With IRS, But Should You?
Approximately 95% of married couples file joint tax returns. There is a strong knee-jerk reaction to file jointly, and tax…
The Legacy IRA: The New $50,000 QCD For IRAs
The SECURE Act 2.0, enacted at the end of 2022, created a new type of qualified charitable distribution (QCD) that…
Alert Issued To Financial Institutions Related To ERC Fraud Schemes
The Financial Crimes Enforcement Network—more commonly known as FinCEN—in close coordination with the Internal Revenue Service Criminal Investigation—sometimes referred to…
12 Days Of Christmas Are More Expensive In 2023, Mirroring The Economy
For 40 years, PNC has calculated the prices of the 12 gifts from the classic holiday song, "The Twelve Days…
Beyond Productivity: The AI Outlook For Tax, Legal And Risk Professionals
It’s been just one year since generative AI (GenAI) mania hijacked the news cycle and set in motion a tidal…
IRS Announces Big Changes To Form 1099-K, Including Another Reporting Delay
Christmas came early (again) this year for many taxpayers and tax professionals. The IRS has announced that it would (again)…
Moores Lean On 1916 Tax Expert To Argue No Realization Means No Income
“Practical men, who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct…
Senate Passes Stop-Gap Spending Bill, Keeps The Lights On Through January
The Senate has passed a stop-gap funding bill to avert a government shutdown before the deadline. The bill is identical…