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 NeighTaxpayer Assistance and Service Act Title IV: Office of the Taxpayer Advocate
This is the fourth in a series of ten client alerts summarizing the key provisions of the Taxpayer Assistance and Service Act (the “TAS Act”), a bipartisan legislative package introduced
Continue Reading Taxpayer Assistance and Service Act Title IV: Office of the Taxpayer AdvocateThe Taxpayer Assistance and Service Act: Title III: Judicial Review
This article is the third in a series analyzing the proposed Taxpayer Assistance and Service Act (the “TAS Act”), bipartisan legislation introduced by Senators Crapo and Wyden to improve service
Continue Reading The Taxpayer Assistance and Service Act: Title III: Judicial ReviewThe Taxpayer Assistance and Service Act: Title II: American Citizens Abroad
This article is the second in a series analyzing the proposed Taxpayer Assistance and Service Act (the “TAS Act”), bipartisan legislation introduced by Senators Crapo and Wyden to improve service
Continue Reading The Taxpayer Assistance and Service Act: Title II: American Citizens AbroadCourt Ruling Creates Refund Opportunity for Pandemic-Era IRS Interest and Penalties
Fox Rothschild attorneys Matthew D. Lee, Brian C. Bernhardt, and Jonathan M. Wasser have authored a client alert regarding a new refund opportunity for taxpayers who accrued IRS
Continue Reading Court Ruling Creates Refund Opportunity for Pandemic-Era IRS Interest and PenaltiesThreat 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 ColumnTrump 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 Assets
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 SalesIRS Provides Additional Extensions for Taxpayers Affected by Terrorist Attacks in Israel
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
Should You File a Refund Lawsuit if the IRS Won’t Process Your ERC Claim?
As Employee Retention Tax Credit (ERC) claims pile up and the IRS shows no signs of lifting its moratorium on processing claims filed after September 14, 2023, businesses with unpaid
Continue Reading Should You File a Refund Lawsuit if the IRS Won’t Process Your ERC Claim?