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.
CbC Reporting Is Here to Stay! Treasury Issues Final Regs
By Kevin Spencer on Jun 30, 2016
Posted In IRS Guidance, Transfer Pricing Resource, Uncategorized
As anticipated in our earlier post, Country-by-Country (CbC) reporting is finally here! On Wednesday, the US Department of the Treasury released final regulations for CbC reporting, effective June 30, 2016. The final regulations apply to any US person who is the “ultimate parent” of a multinational enterprise group that has annual revenue for the preceding year...
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IRS Wages ‘Campaigns’ against Taxpayers
By Chelsea Hess, Kevin Spencer and Robin L. Greenhouse on Jun 29, 2016
Posted In IRS Appeals, IRS Audits, IRS Guidance, Uncategorized
Late last year, the Internal Revenue Service’s (IRS’s) Large Business and International (LB&I) division announced that it would restructure its organization. The restructuring was precipitated by shrinking resources and a shifting environment. A primary feature of the restructuring is the end of the continuous audit program (where the IRS audits a large taxpayer year after...
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Tax Court Adopts Rules for Judicial Conduct and Judicial Disability Complaints
By Kevin Spencer and McDermott Will & Emery on Jun 15, 2016
Posted In Court Procedure Matters, Trial Courts, Uncategorized
In a June 14, 2016 press release (available here), Chief Judge L. Paige Marvel of the United States Tax Court announced the adoption of rules for judicial conduct and judicial disability complaints. The rules conform with the Rules for Judicial Conduct and Judicial Disability Proceedings promulgated by the Judicial Conference of the United States. Links...
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IRS Publishes Another IPU on Transfer Pricing
By Kevin Spencer and McDermott Will & Emery on Jun 8, 2016
Posted In IRS Guidance, Transfer Pricing Resource, Uncategorized
The Internal Revenue Service (IRS) continues to publish International Practice Units (IPUs) on transfer pricing. As explained in our prior post, the IRS has provided guidance on the three requirements to come within the transfer pricing rules in IRC section 482. The IRS continues to expend its limited resources on international tax issues, arming its field...
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Do Partnerships Now Need to Reserve for Taxes?
By Gale E. Chan and Kevin Spencer on Jun 6, 2016
Posted In Uncategorized
The Bipartisan Budget Act of 2015, P.L. 114-74, added new partnership audit rules, which are generally effective for tax years beginning in 2018. These new rules will allow the Internal Revenue Service (IRS) to assess and collect tax due on partnership adjustments at the entity level. Some partnerships will be able to elect out of...
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“Snow Day” Case Highlights Importance of Timely Filing Requirements
By Kevin Spencer and McDermott Will & Emery on Jun 3, 2016
Posted In Court Procedure Matters, Trial Courts, Uncategorized
On June 2, 2016, the US Tax Court issued a unanimous court-reviewed opinion in Guralnik v. Commissioner, 146 T.C. No. 15 (available here), addressing several points related to the timely filing of court documents. The opinion provides important reminders to taxpayers to ensure that they meeting filing deadlines.
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IRS Revises Recent Begin Construction Guidance
By Philip Tingle, Gale E. Chan, Heather Cooper, Kevin Spencer and Madeline Chiampou Tully on May 20, 2016
Posted In IRS Guidance, Uncategorized
On May 18, 2016, the Internal Revenue Service (IRS) revised Notice 2016-31 (Notice), its recent guidance on meeting the beginning of construction requirements for wind and other qualified facilities (including biomass, geothermal, landfill gas, trash, hydropower, and marine and hydrokinetic facilities). For a discussion of the Notice, click here. The revisions clarify that the Continuity...
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New Issue of ‘Focus on Tax Strategies and Developments’
By McDermott Will & Emery, Gary C. Karch, Kevin Spencer, Madeline Chiampou Tully, Michael J. Wilder and Robbie H. R. Chen on May 12, 2016
Posted In IRS Audits, IRS Guidance, Uncategorized
We recently released the May 2016 issue of “Focus on Tax Strategies and Developments,” which can be viewed in its entirety here or through the links below. The issue includes four articles of interest to taxpayers: Proposed Debt-Equity Regulations Have Dramatic Implications for Corporate Tax Planning and Compliance By Thomas W. Giegerich and Michael J. Wilder On...
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IRS Issues Guidance on the Beginning of Construction Rules for Renewable Projects
By Philip Tingle, Gale E. Chan, Heather Cooper, Kevin Spencer and Madeline Chiampou Tully on May 11, 2016
Posted In IRS Guidance, Uncategorized
The Internal Revenue Service recently issued Notice 2016-31, which provides much-needed guidance for wind and other qualified facilities on meeting the beginning of construction requirements in light of the 2015 statutory extension and modification of the production tax credit and the investment tax credit. The Notice also revises and adds to the list of excusable...
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IRS Adds More Enforcement Employees
By John Robert and Kevin Spencer on May 5, 2016
Posted In IRS Audits, Uncategorized
In an internal memo to agency employees, Internal Revenue Service (IRS) Commissioner John A. Koskinen announced the IRS’s intention to hire between 600 and 700 enforcement personnel. It is estimated that between 2010 and the end of 2016, the IRS will have lost more than 17,000 employees, 5,000 from the enforcement area. The hiring, which...
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