On Monday, Republicans unveiled their much anticipated Tax Bill (the “Bill”). At 389 pages, the Bill contains a number of provisions. Some are simply extensions of previous provisions that were sunsetting at the end of 2025. Others are new sections or reversals of existing law. Key provisions or reversals include:…
Continue Reading New House Tax Bill Contains Several Key ProvisionsThreat to Harvard’s Tax Status Reaches All Nonprofits – A Bloomberg Daily Tax Report Column
Fox Rothschild partners Brian Bernhardt and Adam Young authored an article in Bloomberg’s Daily Tax…
Continue Reading Threat to Harvard’s Tax Status Reaches All Nonprofits – A Bloomberg Daily Tax Report ColumnFalse Claims Act Fallout from Pandemic Aid: What You Need to Know – A Fox Rothschild Webinar
Join Fox Rothschild White-Collar Criminal Defense & Regulatory Compliance partners Kevin Raphael, Brian Bernhardt, and …
Continue Reading False Claims Act Fallout from Pandemic Aid: What You Need to Know – A Fox Rothschild WebinarTrump and Congress Nullify IRS Reporting Rule for Digital Assets
Crypto platforms are relieved for now of the duty to report user transactions
The federal…
Continue Reading Trump and Congress Nullify IRS Reporting Rule for Digital AssetsSubscribe to Tax Controversy & Financial Crimes Report
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The Trump administration is continuing its offensive against the Internal Revenue Service by proposing a $2.5 billion cut to the agency’s budget for FY2026. In the White House’s “skinny…
Continue Reading White House Proposes $2.5 Billion Cut to IRS Budget for FY2026By Kristy Caron, Nicholas Lyskin, and Adon Solomon
An installment sale occurs when property is disposed of and at least one payment is received after the tax year of the…
Continue Reading DOJ Seeks Injunction Barring Promotion of Monetized Installment SalesAuditor Releases “Snapshot” of IRS Workforce Revealing Devastating Extent of Initial Job Cuts
The Treasury Department’s Inspector General for Tax Administration (TIGTA) has released a report showing how the Internal Revenue Service has been dramatically impacted by government-wide efforts to reduce the size…
Continue Reading Auditor Releases “Snapshot” of IRS Workforce Revealing Devastating Extent of Initial Job CutsIs it worth turning yourself in? A Minnesota man did and shaved years off his sentence. As DOJ enforcement evolves under the Trump administration, individuals on the edge of exposure…
Continue Reading Self-Disclosure Calculus Remains Complex Under Trump DOJTurmoil continues to roil the highest ranks of the Internal Revenue Service, as the President has replaced the acting IRS Commissioner that he appointed just last week. As we previously…
Continue Reading President Names Yet Another Acting IRS CommissionerOn April 17th, the Fifth Circuit Court of Appeals held that an FCC penalty violates the Seventh Amendment based on the Supreme Court’s landmark ruling in SEC v. Jarkesy.
The…
Continue Reading Another Civil Penalty Falls under Jarkesy – What’s Next?Harvard University’s Tax-Exempt Status in Jeopardy: What It Could Mean for Your Organization
Nonprofit schools and other entities should be prepared to defend their tax-exempt status in the event of an IRS audit after President Trump called for revoking Harvard University’s tax-exempt status.…
Continue Reading Harvard University’s Tax-Exempt Status in Jeopardy: What It Could Mean for Your OrganizationYesterday, while millions of Americans were busy finalizing their tax returns, the President named a former IRS criminal investigator as the tax agency’s new leader. Gary Shapley, a former IRS…
Continue Reading On Tax Day, President Names New IRS ChiefIRS Turns to New ‘John Doe’ Summonses in Continuing Quest to Combat Offshore Tax Evasion
In recent months the Internal Revenue Service (IRS) has started issuing “John Doe” summonses to overseas trust companies and their related entities and vendors to identify clients and obtain their…
Continue Reading IRS Turns to New ‘John Doe’ Summonses in Continuing Quest to Combat Offshore Tax EvasionAbout this Blog
Published by attorneys in the White-Collar Criminal Defense & Regulatory Compliance and Taxation & Wealth Planning practices of national law firm Fox Rothschild LLP, Tax Controversy and Financial Crimes Report reports on the latest developments in all aspects of tax controversy and financial crimes.