Tax Law News and Insights

The Internal Revenue Service on December 21, 2023 launched a new Voluntary Disclosure Program that allows employers who received questionable Employee Retention Credits (ERCs) to repay them at a discounted rate. Employers must apply by March 22, 2024. Employers accepted into the program will only be required to repay 80%...

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Unless you have been living under a rock—as we tax lawyers are wont to do—you have probably been following Moore v. United States, which we last discussed here. On December 5, the tax community stepped into the spotlight (symbolically, of course) to hear the oral arguments before the Supreme Court. The question...

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United States citizens and residents are often not aware of the myriad of foreign information return filing obligations that exist under federal tax laws. For example, buried within the Code are reporting obligations associated with the receipt of a foreign gift and participation and ownership in foreign trusts. The failure...

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