Tax Law News and Insights

On November 28, 2023, in Soroban Capital Partners LP v. Commissioner, the US Tax Court denied the taxpayer's motion for summary judgment, holding that whether a limited partner in a state law limited partnership qualifies for the "limited partner" exception from self-employment tax under Internal Revenue Code (IRC) Section 1402(a)(13) depends...

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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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