A recent report from the Treasury Inspector General for Tax Administration (TIGTA) found that the Internal Revenue Service increased audits of high-income taxpayers during fiscal year 2024, in line with
Continue Reading IRS Increased Audits Of High-Income Individuals During FY2024, But Future Of Initiative Under New Administration Is DoubtfulJustice Department Plans to Eliminate Tax Division by End of Summer
By Matthew D. Lee on
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
By Brian Bernhardt on
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
By Matthew D. Lee on
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
By Matthew D. Lee on
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
By Meeren Amin on
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
By Brian Bernhardt on
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
By Brian Bernhardt on
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
By Chantal Renta & Jonathan Wasser on
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
By Matthew D. Lee on
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