Get your popcorn ready because there is nothing more exciting than the intersection of sports and tax! As a former Division II athlete, the current state of college sports and
Continue Reading The Growing Business of Sports: A Tax Playbook ReviewAdam Young
Contact:Read more about Adam Young
Back to the Future: Tax Edition — Correcting SSN/TIN Issues Before the IRS Repossesses the Delorean
By Adam Young & Elizabeth Blickley on
Every January, businesses race to issue Forms W-2, 1099, and 1099-NEC, but a small typo in a Social Security Number (SSN) or Taxpayer Identification Number (TIN) can turn into a…
Continue Reading Back to the Future: Tax Edition — Correcting SSN/TIN Issues Before the IRS Repossesses the DeloreanNo Points for Participation: Passive Activity Rules and Loss Limitations
By Adam Young on
Classroom participation points may boost a child’s grade in history class, but merely raising your hand won’t get you far with the IRS. The passive activity loss rules under I.R.C.
Continue Reading No Points for Participation: Passive Activity Rules and Loss LimitationsIRS Targeting Charitable Deductions: Old Dog, Old Tricks
By Adam Young on
At the NYU Tax Controversy Forum last week, (former?) Acting IRS Chief Counsel Ken Kies commented on the IRS conservation easement settlement initiative and noted that the IRS…
Continue Reading IRS Targeting Charitable Deductions: Old Dog, Old TricksRhetoric Aside, Audits of Tax-Exempt Organizations Skyrocketed in FY25
By Adam Young on
The current administration’s focus on tax-exempt organizations is no secret. But the recent release of the IRS Databook for FY25 shows that the IRS is following through on the…
Continue Reading Rhetoric Aside, Audits of Tax-Exempt Organizations Skyrocketed in FY25Horse Breeding and Training Expense Deductions? Tax Court Says Neigh
By Adam Young on
In a June 9 opinion, the Tax Court held that a married couple were not engaged in horse breeding and training activities for profit and sustained the IRS’s disallowance…
Continue Reading Horse Breeding and Training Expense Deductions? Tax Court Says NeighFBI and IRS Team Up to Probe Nonprofits for Purported Ties to Domestic Terrorism
By Adam Young on
According to a recent report, the FBI and IRS are rolling out a collaborative effort to investigate nonprofit organizations believed to have connections to domestic terrorism. The program stems…
Continue Reading FBI and IRS Team Up to Probe Nonprofits for Purported Ties to Domestic TerrorismIRS Criminal Investigation Unit to Target Tax-Exempt Entities and Political Donors
By Adam Young on
On October 15, 2025, the Wall Street Journal (WSJ) reported that the Trump administration plans to install administration-friendly officials in the IRS Criminal Investigative Division (IRS CI) to investigate left-leaning…
Continue Reading IRS Criminal Investigation Unit to Target Tax-Exempt Entities and Political DonorsHarvard University’s Tax-Exempt Status in Jeopardy: What It Could Mean for Your Organization
By Adam Young on
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 OrganizationFBAR: The Eleventh Circuit Holds That Willful FBAR Penalties are Subject to the Eighth Amendment Creating Circuit Split
By Isaac Hoenig & Adam Young on
Introduction
For years, FBAR litigants have made the commonsense argument that large willful FBAR penalties, which can exceed the value of the unreported foreign accounts themselves, violate the excessive fines…
Continue Reading FBAR: The Eleventh Circuit Holds That Willful FBAR Penalties are Subject to the Eighth Amendment Creating Circuit Split