Tax Law News and Insights

The IRS has announced a second Employee Retention Credit (ERC) Voluntary Disclosure Program, running through November 22, 2024, which allows businesses to correct improper payments at a 15% discount and avoid future audits, penalties, and interest. This reopening of the ERC Voluntary Disclosure Program only applies to tax periods in 2021...

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In ongoing litigation between the government and Liberty Global Inc. ("Liberty Global"), Liberty Global has appealed a district court's decision that ruled in favor of the government to the Tenth Circuit. We have previously discussed the district court's decision pursuant to the economic substance doctrine (the "ESD") to disregard certain...

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Annuities are one of the most complicated financial tools around, which leads to a lot of misunderstandings about how they work. In fact, consumer research conducted by the American College of Financial Services found that only 12% of Americans knew as much about annuities as they thought they did. The...

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