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 ColumnPresident Names Yet Another Acting IRS Commissioner
Turmoil 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 Tax Day, President Names New IRS Chief
Yesterday, 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 Identifies Seven Employee Retention Credit Red Flags (and Other ERC Updates)
The IRS recently issued a news release identifying seven signs that a business’s Employee Retention Tax Credit (the “ERC”) may be incorrect. The IRS Commissioner also testified before the House
Continue Reading IRS Identifies Seven Employee Retention Credit Red Flags (and Other ERC Updates)IRS and Congress Expand Efforts to Address ERC Fraud
There are several new developments in the Internal Revenue Service’s ongoing campaign to combat false and fraudulent Employee Retention Credit (ERC) claims.
They include an indefinite extension of the agency’s
Continue Reading IRS and Congress Expand Efforts to Address ERC FraudNew IRS Voluntary Disclosure Program Lets Businesses Repay Questionable Employee Retention Credits at a Discount
The IRS has announced a new Voluntary Disclosure Program (VDP) offering businesses a limited-time opportunity to repay improperly claimed Employee Retention Credits at a discount while avoiding penalties and interest. The VDP requires businesses to repay only 80% of the improper credits they received and has an application deadline of March 22, 2024.
Continue Reading New IRS Voluntary Disclosure Program Lets Businesses Repay Questionable Employee Retention Credits at a Discount
IRS Rejects 20,000 Employee Retention Tax Credit Claims, Plans to Offer New Voluntary Disclosure Program
In its most recent effort to fight fraudulent and improper Employee Retention Tax Credit (ERC) claims, on December 6, 2023, the IRS announced it will be notifying an initial group
Continue Reading IRS Rejects 20,000 Employee Retention Tax Credit Claims, Plans to Offer New Voluntary Disclosure Program
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 IntelligenceSenate Schedules Long-Awaited Hearing for IRS Commissioner Nominee
The Senate Finance Committee has scheduled a hearing for Thursday, June 22, 2018, to consider the nomination of Charles P. Rettig to be Commissioner of Internal Revenue. The President nominated
Continue Reading Senate Schedules Long-Awaited Hearing for IRS Commissioner Nominee