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tax Archive

Microcaptive reporting challenge may go forward

TweetShareSharePin0 Shares A lawsuit against the IRS’s requirement that taxpayers using certain microcaptive insurance arrangements and their material advisers must report the arrangement to the IRS is not barred by the Anti-Injunction Act and therefore may proceed, the Supreme Court ruled Monday. In a unanimous decision, the Court in CIC Services, LLC, No. 19-930 (U.S.

Taxpayers deserve pandemic penalty relief, AICPA says

TweetShareSharePin0 Shares News Practice & Procedures By Alistair M. Nevius, J.D. With taxpayers continuing to face challenges related to the COVID-19 pandemic and the IRS facing a backlog of 29 million tax returns that need manual processing, the AICPA on Monday urged the IRS to implement “fair, reasonable, and practical” penalty relief measures to

Incorporating Voter Registration with VITA Services

TweetShareSharePin0 Shares Today’s guest post is from Vanessa Williamson and Jackson Gode. Vanessa is a Senior Fellow in Governance Studies at Brookings, and a Senior Fellow at the Urban-Brookings Tax Policy Center. Jackson, also at Brookings, is Research Analyst with the Governance Studies program. The post discusses interesting research showing how conducting voter registration drives at VITA sites

SECA and the Limited Partner Exemption Again

TweetShareSharePin0 Shares 0 Flares Filament.io Made with Flare More Info“> 0 Flares × Monte Jackel, Of Counsel at Leo Berwick, discusses the absence of guidance or a legislative solution concerning self employment tax for a partner’s income derived from services performed as a partner on behalf of

Business Tax Lessons from Down Under

TweetShareSharePin0 Shares This week the Australian government released its latest budget proposal and two policies that stand out in its fiscal response to the pandemic should be helpful as the economic engine of the country turns back on. The first is full expensing for some investments and the second is the introduction of a loss
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