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August 2018 Newsletter

Annemarie Aguanno discusses, “Final Regulations Bar Corporate Partners from Using Transaction to Avoid Gain.” Elias Koumniotes takes a look at, “Tax Reform Hurts Homeowners, House Democratic Report Says.” Tracy Tasch investigates, “Wyden Report Critiques GOP’s Tax Reform.”

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Salvatore Russo

Senate Finance Committee Approves IRS Commissioner Nominee

Senate Finance Committee Approves IRS Commissioner Nominee The Senate Finance Committee (SFC) advanced President Donald Trump’s nomination of Charles Rettig for IRS Commissioner. The SFC approved the nomination on July 19 by a 14-to-13 party line vote. Qualified Nominee Several SFC Democrats and Republicans praised Rettig’s qualifications to serve as the next IRS Commissioner. SFC […]

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Salvatore Russo

Trump, House GOP Lawmakers Discuss Tax Cuts 2.0

Trump, House GOP Lawmakers Discuss Tax Cuts 2.0 President Donald Trump and House GOP tax writers discussed “Tax Cuts 2.0” in a July 17 meeting at the White House. The next round of tax cuts will focus primarily on the individual side of the tax code, both Trump and House Ways and Means Chair Kevin Brady, R-Tex., […]

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Salvatore Russo

Ways and Means GOP, White House Crafting Tax Cut 2.0 Outline

Ways and Means GOP, White House Crafting Tax Cut 2.0 Outline House Republicans and the Trump Administration are working together to craft a tax cut “2.0”outline, the House’s top tax writer has said. House Ways and Means Committee Chairman Kevin Brady, R-Tex., told reporters during the week that House tax writers and the White House are […]

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Tracy Tasch

Wyden Report Critiques GOP’s Tax Reform

Wyden Report Critiques GOP’s Tax Reform The Senate Finance Committee’s (SFC) leading Democrat has released a report critiquing Republicans’ 2017 overhaul of the tax code. The report, focusing primarily on international tax reform, was released by SFC ranking member Ron Wyden, D-Ore., on July 18. Criticism of GOP Tax Reform The Democratic SFC report, “Trump’s Tax […]

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Elias Koumniotes

Tax Reform Hurts Homeowners, House Democratic Report Says

Tax Reform Hurts Homeowners, House Democratic Report Says Homeowners will be hurt financially by last year’s tax reform, according to a new House Democratic staff report. The report alleges that real estate developers will primarily benefit from the new tax law at the expense of homeowners. The Democratic staff report was released by House Oversight […]

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Annemarie Aguanno

Final Regulations Target Tax-Motivated Inversion Transactions

Final Regulations Target Tax-Motivated Inversion Transactions The IRS has issued final regulations that target tax-motivated inversion transactions and certain post-inversion tax avoidance transactions. The final regulations retain the thresholds and substantiation requirements of the 2016 final, temporary and proposed regulations (the 2016 regulations), but make limited changes to the 2016 regulations to improve clarity and […]

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Salvatore Russo

Tax Preparer’s Obstruction Conviction Vacated

Tax Preparer’s Obstruction Conviction Vacated The Fifth Circuit vacated a tax preparer’s conviction for obstructing tax administration. The conviction was no longer valid in light of C.J. Marinello, SCt., 2018-1 ustc ¶50,192. Marinello Under Code Sec. 7212, it is a crime to corruptly or by force or threats obstruct the due administration of the Internal Revenue Code. In Marinello, the U.S. Supreme […]

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Salvatore Russo

National Taxpayer Advocate Releases Mid-Year Report

National Taxpayer Advocate Releases Mid-Year Report National Taxpayer Advocate Nina E. Olson has released her mid-year report to Congress. The report contains a review of the 2018 filing season, and identifies the priority issues the Taxpayer Advocate Service (TAS) will address during the upcoming fiscal year. It also includes the IRS’s responses to each of […]

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July 2018 Newsletter

Don Sager discusses, “Brady Expects ‘Phase Two’ Tax Reform Outline by August.” Lisa Varela discusses, “Ways and Means Approves IRS Hiring, Agriculture Tax Reform Bills”. Thomas Zanata discusses, “Final Regulations Bar Corporate Partners from Using Transaction to Avoid Gain”.

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