McDermott Will & Emery
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Weekly IRS Roundup January 25 – January 29, 2021
By McDermott Will & Emery on Feb 2, 2021
Posted In IRS Guidance, Tax Reform
Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of January 25, 2021 – January 29, 2021. Additionally, for continuing updates on the tax impact of COVID-19, please visit our resource page here. On January 20, President Biden’s chief of staff, Ronald Klain, issued a...
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Weekly IRS Roundup January 18 – January 22, 2021
By McDermott Will & Emery on Jan 27, 2021
Posted In IRS Guidance, Tax Reform
Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of January 18, 2021 – January 22, 2021. Additionally, for continuing updates on the tax impact of COVID-19, please visit our resource page here. On January 20, President Biden’s chief of staff, Ronald Klain, issued a...
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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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Weekly IRS Roundup January 11 – January 15, 2021
By McDermott Will & Emery on Jan 20, 2021
Posted In IRS Guidance, Tax Reform
Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of January 11, 2021 – January 15, 2021. Additionally, for continuing updates on the tax impact of COVID-19, please visit our resource page here. January 11, 2021: The IRS released TD 9948 containing final regulations relating...
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Weekly IRS Roundup December 28, 2020 – January 8, 2021
By McDermott Will & Emery on Jan 14, 2021
Posted In IRS Guidance, Tax Reform
Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the weeks of December 28, 2020 – January 8, 2021. Additionally, for continuing updates on the tax impact of COVID-19, please visit our resource page here. December 29, 2020: The IRS released Revenue Procedure 21-09 providing a procedure...
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Weekly IRS Roundup December 21 – December 26, 2020
By McDermott Will & Emery on Dec 30, 2020
Posted In IRS Guidance, Tax Reform
Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of December 21 – December 26, 2020. Additionally, for continuing updates on the tax impact of COVID-19, please visit our resource page here. December 21, 2020: The IRS released TD 9941 containing final regulations regarding the...
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Weekly IRS Roundup December 14 – December 18, 2020
By McDermott Will & Emery on Dec 23, 2020
Posted In IRS Guidance, Tax Reform
Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of December 14 – December 18, 2020. Additionally, for continuing updates on the tax impact of COVID-19, please visit our resource page here. December 14, 2020: The IRS released Notice 2020-88 updating and amplifying procedures for...
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Let’s All Stop and Reflect for a Moment
By McDermott Will & Emery on Dec 21, 2020
Posted In Appellate Courts, Tax Reform, Trial Courts
In a recent article for the American Bar Association’s ABA Tax Times, McDermott partner Andrew R. Roberson reflected on 2020 and the importance of giving back. “From COVID-19 to the Black Lives Matter movement; from home office and Zoom to remote learning for students; and so on—these events have impacted us all, both on professional...
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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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