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.
Expect Controversy in the Wake of Tax Reform
By Kevin Spencer and Robin L. Greenhouse on Feb 7, 2018
Posted In IRS Audits, IRS Guidance, Privilege and Non-Disclosure, Tax Reform, Uncategorized
Tax reform is here to stay (at least for the foreseeable future). The Internal Revenue Service (IRS) may receive additional funds to implement the new tax law. With lowered tax rates, accelerated expensing and forced repatriation of foreign earnings comes an increased risk of an IRS audit. This brave new tax world has left so...
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Court Rules That a Family Office Is a Business!
By Kevin Spencer and Leigh-Alexandra Basha on Jan 25, 2018
Posted In IRS Guidance, Trial Courts, Uncategorized
On December 13, 2017, the US Tax Court (Tax Court) held that a family office was appropriately treated as a business, and permitted to deduct its expenses pursuant to Internal Revenue Code (Code) Section 162. In Lender Management LLC v. Commissioner, T.C. Memo. 2017-246, the Internal Revenue Service (IRS) argued that the taxpayer’s expenses should...
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Prepare for Examination Season
By Kevin Spencer and McDermott Will & Emery on Dec 20, 2017
Posted In IRS Audits, IRS Guidance, Tax Reform, Uncategorized
The tax bar is abuzz with the talk of tax reform. Clients are in modeling purgatory, trying to calculate its effects and plan for the future. Public accounting firms are suggesting how to accelerate deductions in 2017 to take advantage of the massive tax rate decline in 2018. Now more than ever, there are substantial...
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Tax Court Says IRS’s “Drift-Net” Argument to Expand Privilege Waiver Must Be Anchored in Principles
By Jeffrey M. Glassman, Kevin Spencer, Robin L. Greenhouse and Roger J. Jones on Nov 3, 2017
Posted In Court Procedure Matters, IRS Audits, IRS Guidance, Privilege and Non-Disclosure, Trial Courts, Uncategorized
In Estate of Levine v. Commissioner, the US Tax Court (Tax Court) rejected an Internal Revenue Service (IRS) attempt to expand upon the privilege waiver principles set forth in AD Inv. 2000 Fund LLC v. Commissioner. As background, the Tax Court held in AD Investments that asserting a good-faith and reasonable-cause defense to penalties places...
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Manafort Indictment Is a Good Reminder of FBAR Disclosure Requirements
By Kevin Spencer, McDermott Will & Emery, Roger J. Jones and McDermott Will & Emery on Nov 2, 2017
Posted In IRS Guidance, Uncategorized
On October 30, 2017, Paul Manafort Jr. was indicted for concealing his interests in several foreign bank accounts, as well as tax evasion and a host of other criminal charges. The indictment reminds us how important it is to follow the strict guidelines of the reporting regime that the Internal Revenue Service (IRS) and the...
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Read the October Issue of Focus on Tax Strategies & Developments
By McDermott Will & Emery, Alejandro Ruiz, David G. Noren, Jean A. Pawlow, Kevin Spencer, Kristen E. Hazel, Robin L. Greenhouse, Sandra P. McGill and Timothy S. Shuman on Nov 1, 2017
Posted In Court Procedure Matters, IRS Guidance, State Controversy, Tax Reform, Tax Refunds, Transfer Pricing Resource, Trial Courts, Uncategorized
The October 2017 issue of Focus on Tax Strategies & Developments has been published. This issue includes five articles that provide insight into US federal and international tax developments and trends across a range of industries, as well as strategies for navigating these complex issues. Republican Leaders Release Tax Reform Framework By David G. Noren Alexander Lee M&A Tax Aspects...
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Tax Court Considering Allowing Remote Testimony
By Kevin Spencer and McDermott Will & Emery on Oct 31, 2017
Posted In Court Procedure Matters, Trial Courts, Uncategorized
We have previously reported on the various forums in which taxpayers can litigate tax cases, noting that the vast majority of tax cases are litigated in the US Tax Court (Tax Court). The Tax Court is the preferred forum for several reasons, including that the judges are all tax specialists, and taxpayers can litigate their...
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IRS Criminal Investigation Division Expects Official “Stand Up” of National Coordinated Investigation Units in January
By Kevin Spencer and McDermott Will & Emery on Oct 30, 2017
Posted In IRS Guidance, Uncategorized
In early August 2017 (as we previously reported), the Chief of the Internal Revenue Service’s (IRS) Criminal Investigation Division (CID), John D. Fort, announced that CID would be forming new National Coordinated Investigation Units over the next few months. In a recent conference, Fort has confirmed that these units will be fully operational in January,...
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IRS and Taxpayers Continue to Battle over the IRC Section 199 Deduction for Computer Software
By Kevin Spencer and Robin L. Greenhouse on Oct 27, 2017
Posted In IRS Guidance, Uncategorized
On October 20, 2017, the Internal Revenue Service (IRS) published Office of Chief Counsel Internal Revenue Service Memorandum 20174201F (FSA), legal advice written by a field attorney in the Office of Chief Counsel that was reviewed by an associate office, which deals with a merchant bank’s claim that its revenue from merchant discount fees qualifies...
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IRS Releases 2017-2018 Priority Guidance Plan
By Kevin Spencer and McDermott Will & Emery on Oct 26, 2017
Posted In IRS Guidance, Uncategorized
The US Department of Treasury (Treasury) and Internal Revenue Service (IRS) issue Priority Guidance Plans each year to identify the tax issues they believe should be addressed through regulations, revenue rulings, revenue procedures, notice and other published administrative guidance. On October 20, 2017, the IRS and Treasury released the 2017-2018 Priority Guidance Plan. Part 1...
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