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Subscribe to McDermott Will & Emery's PostsInternal Revenue Service Updates Golden Parachute Payments Audit Technique Guide, Signaling Key Items IRS May Review on Audit
By Andrew Liazos, Ashley McCarthy and McDermott Will & Emery on Aug 24, 2017
Posted In IRS Guidance, Uncategorized
In early 2017, the IRS updated its Golden Parachute Payments Audit Technique Guide for the first time since its 2005 issuance. While intended as an internal reference for IRS agents conducting golden parachute examinations, the Audit Technique Guide offers valuable insight for both public and private companies, and recipients of golden parachute payments, into how...
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Court Rejects Taxpayer’s Claim for US-Swiss Treaty Coverage
By McDermott Will & Emery and McDermott Will & Emery on Aug 23, 2017
Posted In Transfer Pricing Resource, Trial Courts, Uncategorized
On August 14, 2017, the United States District Court for the District of Columbia (DC District Court) decided Starr International Company, Inc. v. United States. In Starr International, the DC District Court held that the Internal Revenue Service (IRS) was not arbitrary or capricious in finding at least one of the taxpayer’s principal purposes for...
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Sovereign Immunity Principles Bar Taxpayers from Challenging John Doe Summonses
By Jeffrey M. Glassman and McDermott Will & Emery on Aug 17, 2017
Posted In IRS Guidance, Trial Courts, Uncategorized
We recently wrote here about “John Doe” summonses and a case where an anonymous “John Doe” was allowed to intervene in a summons enforcement action. To refresh, under Internal Revenue Code (IRC) Section 7602 the Internal Revenue Service (IRS) has broad authority to issue administrative summonses to taxpayers and third parties to gather information to...
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The IRS Is Struck Down Again in Privilege Dispute
By McDermott Will & Emery and McDermott Will & Emery on Aug 11, 2017
Posted In Court Procedure Matters, IRS Guidance, Privilege and Non-Disclosure, Trial Courts, Uncategorized
Courts continue to strike down the Internal Revenue Service (IRS) as it continues to test the bounds of the attorney-client privilege and work product doctrine through the issuance of improper summonses. In the last several years, the IRS has filed numerous summons enforcement proceedings related to the production of documents generally protected by the attorney-client...
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TIGTA Pounces on IRS Federal Records Retention Policies; Recommends Changes
By McDermott Will & Emery and McDermott Will & Emery on Aug 9, 2017
Posted In Court Procedure Matters, IRS Guidance, Uncategorized
The Treasury Inspector General for Tax Administration (TIGTA) recently summarized several critical deficiencies in how the IRS handles electronically stored federal records in a recent report, available here. The lapses identified by TIGTA may affect the availability of those electronic records for future Freedom of Information Act (FOIA) requests, litigation and Congressional review. The report...
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Courts Rejects Challenge to OVDP Transition Rules
By McDermott Will & Emery and McDermott Will & Emery on Jul 18, 2017
Posted In IRS Audits, IRS Guidance, Trial Courts, Uncategorized
The Internal Revenue Service (IRS) currently offers non-compliant US taxpayers several different relief programs to report foreign assets and/or income to become compliant with US rules related to the disclosure of offshore income. See here for a link to the different options. The two main programs are the Offshore Voluntary Disclosure Program (OVDP) and the...
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LB&I’s Final Campaigns Webinar: Section 48C Energy Credits and Completed Contract Method for Land Developers
By Jeffrey M. Glassman and McDermott Will & Emery on Jun 27, 2017
Posted In IRS Audits, IRS Guidance, Tax Refunds, Uncategorized
On June 20, 2017, the Internal Revenue Service (IRS) Large Business and International Division (LB&I) hosted its final webinar regarding LB&I Campaigns. Our previous coverage of LB&I Campaigns can be found here. The webinar focused on two campaigns: (1) Section 48C Energy Credits and (2) Land Developers – Completed Contract Method.
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The View from Here: LB&I’s Cross-Border Activities Campaigns Webinar
By Jeffrey M. Glassman and McDermott Will & Emery on May 25, 2017
Posted In IRS Audits, IRS Guidance, Transfer Pricing Resource, Uncategorized
On Tuesday, May 23, 2017, the Internal Revenue Service (IRS) Large Business and International Division (LB&I) hosted its sixth in a series of eight webinars regarding LB&I Campaigns. Our previous coverage of LB&I Campaigns can be found here. The webinar focused on two cross-border activities campaigns: (1) the Repatriation Campaign and (2) the Form 1120-F...
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To Agree or Not to Agree, That Is the Question
By McDermott Will & Emery and McDermott Will & Emery on May 17, 2017
Posted In IRS Appeals, IRS Audits, Uncategorized
The last few years have seen significant changes in audit procedures employed by the Internal Revenue Service (IRS). These changes range from the new Information Document Request (IDR) procedures to substantial changes at the IRS Appeals level. This post focuses on the IRS’s attempt to develop an agreed set of facts before a case is...
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ABA Section of Taxation Response to Recent Changes to IRS Appeals
By Kevin Spencer and McDermott Will & Emery on May 10, 2017
Posted In IRS Appeals, Uncategorized
We have covered on several occasions the changes in the past year to the IRS Appeals process. See here, here, here, here and here. The reactions from taxpayers and practitioners to the recent changes has, for the most part, been negative. On May 9, 2017, the American Bar Association Section of Taxation provided comments to the...
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