Natural disasters have a profound impact on the lives and livelihoods of countless individuals and businesses each year. In the aftermath of such events, those affected are often left to pick up the pieces and…
The IRS, a name that evokes an emotional response for most. Whether it’s a gulp of trepidation or an assertive nod of preparedness, the Internal Revenue Service has an undeniable presence in the life of…
Tax disputes often make headlines, and this time, it’s none other than Queen Bey herself, Beyoncé Knowles-Carter, one of the most famous artists of all time, in the spotlight. Beyoncé has filed a petition in…
The Internal Revenue Service (IRS) has announced a new regulation that outlines rules for supervisory approval of penalties. This regulation, published in the Federal Register on April 11, 2023, is intended to provide clearer guidance…
Farhy v. Commissioner decision limits the IRS’s power to impose penalties for failure to file or filing late Form 5471 In a recent U.S. Tax Court opinion, Alon Farhy v. Commissioner, 160 T.C. 6 (Apr….
The Internal Revenue Service (IRS) has released a new Chief Counsel Advice (CCA) Memorandum, providing guidance on the tax implications of cryptocurrency protocol upgrades. The document clarifies that no gain or loss is realized in…