IRS Notice 2024-72, provides relief for individuals and businesses affected by terrorism in Israel.
Continue Reading IRS Provides Additional Extensions for Taxpayers Affected by Terrorist Attacks in Israel
IRS Going All in on Use of ArtificiaI Intelligence
The IRS issued a news release today announcing a continued and more focused use of Artificial Intelligence (AI) to audit partnerships, large corporations and alleged tax shelter promoters. The news
Continue Reading IRS Going All in on Use of ArtificiaI Intelligence
IRS is coming for NIL collectives
It is a truism that agencies required to publicly release documents sometimes hold off on releasing those documents until a Friday afternoon, in the hopes it will be overlooked. The
Continue Reading IRS is coming for NIL collectivesJustice Department Plans to Eliminate Tax Division by End of Summer
Officials at the U.S. Department of Justice have announced plans to eliminate its Tax Division and relocate its attorneys to other divisions within the department. In existence for more than
Continue Reading Justice Department Plans to Eliminate Tax Division by End of SummerIRS-ICE Information Sharing: Practical Tax and Immigration Considerations
In April, the IRS and ICE signed a Memorandum of Understanding (MOU) allowing the IRS to share taxpayer information, such as names, addresses, and tax data, with ICE for certain
Continue Reading IRS-ICE Information Sharing: Practical Tax and Immigration ConsiderationsTaxpayer Advocate Offers Candid Assessment of State of IRS Workforce and Other Challenges Facing the New IRS Commissioner
The National Taxpayer Advocate has released her Fiscal Year 2026 Objectives Report to Congress, a statutorily-required annual report outlining the objectives of the Office of the Taxpayer Advocate for
Continue Reading Taxpayer Advocate Offers Candid Assessment of State of IRS Workforce and Other Challenges Facing the New IRS CommissionerBilly Long Sworn in as 51st IRS Commissioner
Former member of Congress and professional auctioneer Billy Long has been formally sworn in as Commissioner of the Internal Revenue Service. Following lengthy delays during his nomination process, Long was
Continue Reading Billy Long Sworn in as 51st IRS CommissionerNew House Tax Bill Contains Several Key Provisions
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
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 Report examining both the ancillary threats to all nonprofits as a result of the Administration’s
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 Jonathan Wasser for a complimentary webinar addressing how to prepare for a potential Department of
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 rule that would have required crypto platforms to report users’ transactions to the IRS has
Continue Reading Trump and Congress Nullify IRS Reporting Rule for Digital AssetsWhite House Proposes $2.5 Billion Cut to IRS Budget for FY2026
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 FY2026
DOJ Seeks Injunction Barring Promotion of Monetized Installment Sales
By 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 Cuts