Sports industry partnerships are now on notice that the Internal Revenue Service (IRS) is initiating specialized, issue-based BBA partnership examinations focusing on their income and deductions....more
2023 saw a number of key tax developments that may affect the private fund industry going into 2024, from key US Tax Court opinions and updates to Internal Revenue Service (IRS) Forms, to new regulations proposed by the IRS...more
Private equity, hedge fund, and other investment fund sponsors should be aware of the recent development in the Internal Revenue Service’s (IRS’s) audit campaign with respect to potential liability for Self-Employment...more
Private equity, hedge fund, and other investment fund sponsors should be aware that there continue to be significant developments in the Internal Revenue Service's (IRS’s) audit campaign with respect to the potential...more
A recent challenge to the constitutionality of the federal excise tax on domestic crude oil exported from the United States proved successful in the US Court of Appeals for the Fifth Circuit. While the US Department of...more
In continued efforts to help taxpayers address the challenges brought on by the coronavirus (COVID-19) pandemic, the Internal Revenue Service announced further relief on April 9, including automatically extending deadlines...more
The Internal Revenue Service on March 24 published a first set of answers to frequently asked questions regarding the federal income tax return filing and payment relief provided in Notice 2020-18. This LawFlash discusses the...more
The day after US Secretary of the Treasury Steven Mnuchin’s announcement on March 17, the Internal Revenue Service issued helpful guidance (Notice 2020-17) on the coronavirus (COVID-19) crisis. Importantly, the IRS is...more
Two days after extending by 90 days the deadline for payment of certain federal income taxes, on March 20, US Secretary of the Treasury Steven Mnuchin announced that the Internal Revenue Service will also extend the deadline...more
3/22/2020
/ Coronavirus/COVID-19 ,
Corporate Taxes ,
Federal Taxes ,
Filing Deadlines ,
Filing Requirements ,
Income Taxes ,
IRS ,
Relief Measures ,
Required Forms ,
Secretary of the Treasury ,
Tax Extensions ,
Tax Returns ,
Time Extensions ,
U.S. Treasury