Kevin Spencer
Subscribe to Kevin Spencer's PostsKevin Spencer focuses his practice on tax controversy issues. Kevin represents clients in complicated tax disputes in court and before the Internal Revenue Service (IRS) at the IRS Appeals and Examination divisions. In addition to his tax controversy practice, Kevin has broad experience advising clients on various tax issues, including tax accounting, employment and reasonable compensation, civil and criminal tax penalties, IRS procedures, reportable transactions and tax shelters, renewable energy, state and local tax, and private client matters. After earning his Master of Tax degree, Kevin had the privilege to clerk for the Honorable Robert P. Ruwe on the US Tax Court. Read Kevin Spencer's full bio.
Biden Administration Proposals Will Greatly Enhance IRS’ Ability to Identify Cryptocurrency Transactions
By Julian André, Kevin Spencer and Katharine Suominen on May 26, 2021
Posted In IRS Guidance, Tax Reform
The Biden Administration and the Internal Revenue Service (IRS) continue to focus heavily on cryptocurrency tax enforcement issues. On May 20, 2021, the US Department of the Treasury (Treasury) released the American Families Plan Tax Compliance Agenda, a 22-page report detailing tax compliance measures that are to be included as part of US President Joe...
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Eighth Circuit Holds the Mayo in Tax Regulation Invalidity Case
By Kevin Spencer and McDermott Will & Emery on May 17, 2021
Posted In Appellate Courts, Court Procedure Matters, Tax Reform, Trial Courts
In the latest tax regulation deference case, the Eighth Circuit provided guidance to taxpayers and tax practitioners on the “analytical path” to resolve the question of whether a tax regulation is a valid interpretation of the Internal Revenue Code. The court held that the regulation was invalid in part because it unreasonably added conditions to...
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Finding John Doe, Part II: IRS Secures Another Victory to “Root Out” Virtual Currency Tax Noncompliance
By Julian André, Kevin Spencer, Katharine Suominen and McDermott Will & Emery on May 7, 2021
Posted In IRS Guidance, Tax Reform
The Internal Revenue Service (IRS) has scored another significant victory in its rapidly increasing virtual currency tax enforcement efforts. On May 5, 2021, the US District Court for the Northern District of California entered an order authorizing the IRS to serve a John Doe summons on popular cryptocurrency exchange, Payward Ventures Inc. d/b/a Kraken (Kraken)....
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IRS Releases Guidance on Cryptocurrency Hard Forks
By John T. Lutz, William R. Pomierski, Kevin Spencer and McDermott Will & Emery on May 6, 2021
Posted In IRS Guidance, Tax Reform
On April 9, 2021, the Internal Revenue Service (IRS) released Chief Counsel Advice memo 202114020 (Hard Fork CCA), which details the potential tax consequences for taxpayers who held Bitcoin prior to the August 1, 2017, Bitcoin hard fork. While the Hard Fork CCA concerns the taxation of a particular cryptocurrency transaction, it has additional significance...
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IRS Extends Use of Digital Signatures for Certain Forms until End of 2021
By Kevin Spencer, Michael Bruno and McDermott Will & Emery on Apr 23, 2021
Posted In IRS Guidance
The list of Internal Revenue Service (IRS) forms that can be digitally signed continues to grow. On August 28, 2020, the IRS issued a memorandum indicating that it would accept the use of digital signatures on various IRS forms because of the restrictions involved with the COVID-19 pandemic. In September 2020, it announced the addition...
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Biden Spending Proposal Calls for 10% IRS Budget Increase
By Kevin Spencer, Brian Moore and McDermott Will & Emery on Apr 21, 2021
Posted In IRS Appeals, IRS Audits, IRS Guidance
The Biden Administration has requested a $1.2 billion increase in funding for the Internal Revenue Service (IRS) as part of its proposal for Fiscal Year 2022 (FY 2022) discretionary funding released in a letter from Office of Management and Budget Acting Director Shalanda Young on April 9, 2021. The additional funding would bring the IRS...
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IRS Issues Practice Unit on Section 965 Transition Tax
By Kevin Spencer and McDermott Will & Emery on Mar 24, 2021
Posted In IRS Audits, IRS Guidance, Tax Reform
One of the most pressing audit issues for large taxpayers today centers on the Internal Revenue Code (Code) Section 965 transition tax. The Internal Revenue Service (IRS) has designated Code Section 965 as a campaign issue and is actively auditing taxpayers’ transition tax calculations and positions, along with other tax reform items. The stakes are...
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Exxon Prevails in $200 Million Tax Penalty Case
By Kevin Spencer and McDermott Will & Emery on Jan 26, 2021
Posted In Appellate Courts, IRS Appeals, Settlements, Tax Refunds, Trial Courts
On January 13, 2021, the US District Court for the Northern District of Texas ruled in favor of Exxon Mobil Corporation (“Exxon”) in its battle against the government over tax penalties. Exxon filed amended returns for its 2006-2009 tax years seeking a $1.35 billion tax refund based upon a change of character of certain transactions...
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Tax Court Announces New Case Management System to Go Live Before New Year’s
By Kevin Spencer and McDermott Will & Emery on Dec 18, 2020
Posted In Court Procedure Matters, Trial Courts
We previously reported on the US Tax Court’s (Tax Court) announcement that it was changing its case management system, DAWSON (Docket Access Within a Secure Online Network). This morning, the Tax Court issued a press release confirming the launch of DAWSON on December 28, 2020. Temporary credentials for taxpayers and practitioners already registered for electronic...
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2020’s Key Tax Controversy Developments
By Kevin Spencer and McDermott Will & Emery on Dec 16, 2020
Posted In Appellate Courts, Court Procedure Matters, IRS Appeals, IRS Audits, IRS Guidance, Transfer Pricing Resource, Trial Courts
In the face of the pandemic and all the challenges that came with 2020, tax controversy marched on. In this article, we explore several important cases, including one of the most closely watched Supreme Court cases, CIC Services LLC v. Internal Revenue Service, which raises important questions regarding the scope of the Anti-Injunction Act and...
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