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By McDermott Will & Emery on Apr 6, 2017
Posted In IRS Appeals, IRS Guidance, Uncategorized
On March 30, 2017, the US Treasury Inspector General for Tax Administration (TIGTA) published a report identifying numerous violations of taxpayer rights from 2012 to 2014 by the Internal Revenue Service Criminal Investigation Division (IRS CID) in structuring cases. TIGTA examined over 300 investigations for structuring in this time period and identified 21 cases in...
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IRS Criminal Investigation Division Continues to Face Core Mission Challenges Due to Budget Cuts
By McDermott Will & Emery on Feb 28, 2017
Posted In IRS Guidance, Uncategorized
This week, the Internal Revenue Service (IRS) Criminal Investigation Division (CID) released its annual report for 2016, continuing a message sent for several years now: that IRS CID’s staffing declines are affecting its core mission tax work. Core mission tax work is distinguished from other types of IRS CID investigations—such as terrorism or health care...
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Giving Back – Providing Pro Bono Tax Assistance
By Kevin Spencer, McDermott Will & Emery and McDermott Will & Emery on Feb 23, 2017
Posted In Trial Courts, Uncategorized
Here at McDermott, we value giving back to the community through pro bono efforts. In particular, we provide substantial assistance in pro bono tax cases to low-income individuals through our relationships with low-income taxpayer clinics throughout the country. Over the years, we have settled dozens of cases for low-income taxpayers in docketed tax cases and...
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Retaliation Claims By Corporate Whistleblowers – What Is Too Far?
By McDermott Will & Emery on Feb 22, 2017
Posted In Court Procedure Matters, Privilege and Non-Disclosure, Trial Courts, Uncategorized
This week, a French court announced an indictment against UBS related to its alleged treatment of Nicholas Forissier, a former audit manager who provided information to French authorities a decade ago in a tax evasion investigation of UBS. According to at least one press account, the indictment alleges that Forissier was “forced to work under...
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Tax Court Affirms That Reportable Transaction Penalty Is Constitutional
By Joshua M. Ellenberg and McDermott Will & Emery on Feb 10, 2017
Posted In Court Procedure Matters, IRS Guidance, Trial Courts, Uncategorized
In Thompson v. Commissioner, 148 T.C. No. 3 148 (2017), the US Tax Court confirmed that the Internal Revenue Code (IRC) Section 6662A penalty for reportable transactions is constitutional and does not violate the Excessive Fines Clause of the Eighth Amendment. IRC Section 6662A(a) imposes a penalty on any “reportable transaction understatement.” A “reportable transaction...
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Revenue Procedure 2017-23: IRS Releases Guidance on Form 8975 and Country by Country Reporting
By McDermott Will & Emery on Feb 6, 2017
Posted In IRS Guidance, Transfer Pricing Resource, Uncategorized
As a follow-up to regulations issued last June, the Internal Revenue Service (IRS) has issued Revenue Procedure 2017-23, which sets forth the process for filing Form 8975, Country-by-Country (CbC) Report, and accompanying Schedules A, Tax Jurisdiction and Constituent Entity Information (collectively, Form 8975), by ultimate parent entities of US multinational enterprise (MNE) groups for reporting...
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Run for Cover—IRS Unveils Initial “Campaigns” for LB&I Audits
By Kevin Spencer, Robin L. Greenhouse, McDermott Will & Emery and McDermott Will & Emery on Feb 1, 2017
Posted In IRS Audits, IRS Guidance, Uncategorized
They’re here! On January 31, 2017, the Internal Revenue Service (IRS) Large Business & International (LB&I) division released its much-anticipated announcement related to the identification and selection of campaigns. The initial list identifies 13 compliance issues that LB&I is focused on and lists the specific practice area involved and the lead executive for each campaign. ...
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National Taxpayer Advocate 2016 Report – Penalties
By McDermott Will & Emery on Jan 26, 2017
Posted In Appellate Courts, IRS Appeals, IRS Guidance, Trial Courts, Uncategorized
Every year, the Taxpayer Advocate Service’s (TAS) Annual Report to Congress provides a unique perspective regarding the workings of the Internal Revenue Service (IRS) and how the IRS relates to the vast majority of taxpayers. That insight is particularly valuable when the IRS chooses to assert penalties—one of the most policy-driven decisions that the IRS...
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What to Expect During a Change of Administration
By Editorial Team, Kevin Spencer, McDermott Will & Emery and McDermott Will & Emery on Jan 25, 2017
Posted In Court Procedure Matters, IRS Audits, IRS Guidance, Uncategorized
With the inauguration of President Trump, and the accompanying change of administration, the American people have been promised great change in all areas of the federal government. One question we at McDermott have been frequently asked since the election is: what should a taxpayer expect from the Internal Revenue Service (IRS) and the Department of...
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National Taxpayer Advocate Releases 2016 Annual Report to Congress
By McDermott Will & Emery on Jan 19, 2017
Posted In IRS Guidance, Uncategorized
On January 10, 2017, the National Taxpayer Advocate Nina E. Olson released her 2016 Annual Report to Congress. According to the Taxpayer Advocate Service (TAS), the report was delivered to Congress with no prior review by the Internal Revenue Service (IRS) Commissioner, the Secretary of the Treasury or the Office of Management and Budget. The...
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