TAXES Archive

TweetShareSharePin0 Shares Today, the Supreme Court handed down a unanimous opinion in CIC Services.  The Court holds that the Anti-Injunction Act does not bar a suit challenging a IRS notice that requires a non-taxpayer to provide information even though the failure to provide the information could result in a penalty.  Today, we bring an observation

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

TweetShareSharePin0 Shares The Joint Committee on Taxation (JCT) recently released data on taxes paid at various levels of income, indicating the federal tax system is progressive, consistent with similar analysis by the Congressional Budget Office (CBO), and the Organisation for Economic Co-operation and Development (OECD). The JCT found that the bottom 50 percent of taxpayers

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

TweetShareSharePin0 Shares This week is the ABA Tax Section meeting.  Normally, this is the biggest meeting of the year because it takes place in DC and the Tax Section can attract all of the government speakers.  With everything happening in the tax world at the moment, there would be lots of important players to see

TweetShareSharePin0 Shares We note that the Practical Tax Lawyer (“PTL”) is looking for authors.  PTL gives the general practice and small firm lawyer short, practical “how-to” or “intro to” sorts of articles on tax.  PTL especially welcome articles that help practitioners think about how to deal with recent changes in the law, regulations, or IRS

TweetShareSharePin0 Shares With Notice 2021-26, the IRS explained on Monday that dependent care assistance program balances carried forward under temporary COVID-19 relief provisions retain their exclusion from participating employees’ gross income and wages. Dependent care assistance programs, authorized by Sec. 129, allow exclusion from gross income of employee amounts paid or incurred by the employer