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.
Joint Committee Releases Overview of Its Refund Review Process
By Kevin Spencer and McDermott Will & Emery on Jan 10, 2019
Posted In IRS Appeals, IRS Audits, IRS Guidance, Settlements, Tax Refunds, Uncategorized
Clients ask us all of the time, “What is the Joint Committee on Taxation’s (JCT) process for reviewing refund claims granted by the Internal Revenue Service (IRS)?” Recently, the JCT has released an overview of its process. Wait, what? After the IRS has agreed to issue you a refund, there is a congressional committee that...
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In-Person IRS Appeals Conferences Are Here to Stay
By Kevin Spencer and McDermott Will & Emery on Dec 14, 2018
Posted In IRS Appeals, IRS Guidance, Uncategorized
On November 28, 2018, the IRS issued a memorandum to its Appeals division employees, providing guidance on how and where to conduct Appeals conferences with taxpayers. As we have previously reported, the IRS Appeals division has been in flux for the last several years constrained by limited resources, retiring Appeals Officers, and an ever-growing case...
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Tax Court Announces Adoption of Amendments to Rules of Practice and Procedure
By Kevin Spencer and McDermott Will & Emery on Dec 4, 2018
Posted In Court Procedure Matters, Trial Courts, Uncategorized
Back in April, we discussed possible changes to the Tax Court Rules of Practice and Procedure based on comments made at the Tax Court Judicial Conference in Chicago. On November 30, 2018, the Tax Court announced the adoption of amendments to its Rules in several areas. Certain amendments are discussed below. Payments to the Tax...
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Cryptocurrency May Be Subject to US Tax: Come Into Compliance Now
By Kevin Spencer, McDermott Will & Emery and McDermott Will & Emery on Nov 16, 2018
Posted In IRS Guidance, Uncategorized
Lately, we have been frequently asked the question: “I file US tax returns and pay taxes here. Are my cryptocurrency transactions taxable or reportable in the US?” The answer for US persons and US taxpayers most likely is “yes.” US persons are generally taxable on income earned worldwide, regardless of the manner in which that...
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Law360: A Look At Tax Code Section 199’s Last Stand
By Kevin Spencer and McDermott Will & Emery on Nov 7, 2018
Posted In Alternative Dispute Resolution, Court Procedure Matters, IRS Guidance, Settlements, Tax Reform, Trial Courts, Uncategorized
Andy Roberson, Kevin Spencer and Emily Mussio recently authored an article for Law360 entitled, “A Look At Tax Code Section 199’s Last Stand.” The article discusses the IRS’s contentious history in handling Code Section 199 and the taxpayers’ continued battle to claim the benefit – even after its recent repeal. Access the full article. Originally...
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The LB&I Campaigns Keep Coming!
By Kevin Spencer and McDermott Will & Emery on Oct 31, 2018
Posted In IRS Audits, IRS Guidance, Uncategorized
The Internal Revenue Service (IRS) Large Business and International (LB&I) Division continues to churn out new audit “campaigns.” The most recent announcement on October 30, 2018, identifies five new campaigns, which were identified through LB&I data analysis and suggestions from IRS employees. With the addition of these new campaigns, LB&I has now identified 50 campaigns...
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Uncle Sam Is Buying Your Next Business Meal – at Least Half of It!
By Kevin Spencer on Oct 5, 2018
Posted In IRS Guidance, Tax Reform, Uncategorized
Tax reform made many structural changes to our tax system. Changes to Code Section 274, however, sent shudders through corporate America. As amended, Code Section 274 eliminated the 50 percent deduction for “entertainment” expenses that are related to business activities. Sadly, gone are the days of companies deducting the cost of box tickets to games...
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More Developments on IRS’s Real-Time Audit Program
By Kevin Spencer and McDermott Will & Emery on Oct 2, 2018
Posted In IRS Audits, IRS Guidance, Tax Reform, Transfer Pricing Resource, Uncategorized
We have previously discussed ongoing developments with the Internal Revenue Service’s (IRS) Compliance Assurance Process (CAP) program. In brief summary, CAP is a real-time audit program that seeks to resolve the tax treatment of all or most return issues before the tax return is filed. The CAP program began in 2005 on an invitation-only basis...
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A Lot Is Going on at the Tax Court
By Kevin Spencer and McDermott Will & Emery on Sep 25, 2018
Posted In Court Procedure Matters, Trial Courts, Uncategorized
The US Tax Court is alive with action these days. First, two new judges will start soon after they are sworn in. Ms. Elizabeth Copeland and Mr. Patrick Urda were nominated on August 2017 for 15-year terms to fill openings created by retiring tax court judges. They were confirmed on August 28, 2018. Ms. Copeland...
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IRS Proposes to Withdraw Debt-Equity Documentation Regulations
By Kevin Spencer and McDermott Will & Emery on Sep 21, 2018
Posted In IRS Guidance, Uncategorized
Over the years, the determination of whether an item constitutes debt or equity has generated significant litigation. Courts have developed multifactor tests and engaged in intensive fact finding to make this determination. Arguably, part of the reason for the numerous disputes was the lack of regulations under Internal Revenue Code (Code) Section 385, which explicitly...
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