Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for June 18, 2025 – July 11, 2025.
“One Big Beautiful Bill Act” tax provisions -
On July 4, 2025, US President Donald...more
7/16/2025
/ Employee Retention ,
FinCEN ,
Internal Revenue Code (IRC) ,
IRS ,
Legislative Agendas ,
New Legislation ,
Opportunity Zones ,
Penalties ,
Regulatory Agenda ,
Regulatory Requirements ,
Reporting Requirements ,
Tax Credits ,
Tax Exemptions ,
Tax Reform
Case: Stenson Tamaddon LLC v. IRS, No. CV-24-01123-PHX-SPL, 2025 WL 1725942 (D. Ariz. June 20, 2025)
On June 20, 2025, the US District Court for the District of Arizona denied a motion for summary judgment that was filed...more
June 16, 2025: Billy Long was sworn in as the 51st IRS Commissioner after having been confirmed by the US Senate on June 12. Long served as a US Representative for Missouri’s 7th congressional district from 2011 to 2023. His...more
Taxpayers who made payments to the Internal Revenue Service (IRS) that included underpayment interest and/or failure-to-file/pay penalties that accrued during all or part of the period between January 20, 2020, through July...more
6/13/2025
/ Appeals ,
Coronavirus/COVID-19 ,
Failure To Pay ,
Failure-to-File ,
Filing Deadlines ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Statute of Limitations ,
Tax Liability ,
Tax Penalties ,
Tax Refunds ,
Tax Returns
Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for May 15, 2025 – June 2, 2025....more
6/6/2025
/ Alternative Minimum Tax ,
Corporate Taxes ,
Filing Deadlines ,
Internal Revenue Code (IRC) ,
IRS ,
New Guidance ,
New Legislation ,
Proposed Regulation ,
Revenue Procedures ,
Revenue Rulings ,
Tax Court ,
Tax Rates
A sweeping federal tax bill that is currently under consideration in the US House of Representatives contains provisions that would significantly change the administration and enforcement of the Employee Retention Credit...more
5/21/2025
/ CARES Act ,
Coronavirus/COVID-19 ,
Employee Benefits ,
Employee Retention ,
Federal Taxes ,
Government Agencies ,
Income Taxes ,
IRS ,
New Legislation ,
Proposed Legislation ,
Tax Credits ,
Taxation ,
Trump Administration
Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for May 2, 2025 – May 13, 2025.
IRS GUIDANCE -
May 2, 2025: The IRS issued Revenue Procedure 2025-20, providing...more
5/20/2025
/ Executive Orders ,
Income Taxes ,
Interest Rates ,
Internal Revenue Code (IRC) ,
IRS ,
New Guidance ,
New Legislation ,
Proposed Legislation ,
Revenue Procedures ,
Revenue Rulings ,
Tax Credits ,
Tax Rates ,
Tax Reform
The IRS issued Notice 2025-19, inviting the public to submit recommendations for items to include in the IRS’s 2025-2026 Priority Guidance Plan. The IRS uses the Priority Guidance Plan to identify and prioritize the tax...more
5/1/2025
/ Digital Assets ,
Disclosure Requirements ,
Executive Orders ,
Filing Requirements ,
Government Agencies ,
IRS ,
New Guidance ,
Regulatory Reform ,
Reporting Requirements ,
Rulemaking Process ,
Small Business ,
Taxation
Case: ERC Today LLC et al. v. John McInelly et al., No. 2:24-cv-03178 (D. Ariz.)
In an April 2025 order, the US District Court for the District of Arizona denied a motion for a preliminary injunction filed by two tax...more
Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for March 15, 2025 – March 28, 2025.
IRS GUIDANCE -
March 17, 2025: The IRS issued Revenue Ruling 2025-8, providing...more
Join McDermott’s Tax Controversy & Litigation Group for an insightful webinar on the intricacies of claiming and collecting IRS tax refunds. This session is designed for tax professionals, legal practitioners, and anyone...more
Check out our summary of recent Internal Revenue Service (IRS) guidance for February 17, 2025 – March 14, 2025.
Editors’ note: With the change in presidential administrations, the IRS has undergone significant transition...more
3/17/2025
/ Employee Benefits ,
Income Taxes ,
Interest Rates ,
Internal Revenue Code (IRC) ,
International Tax Issues ,
IRS ,
Regulatory Requirements ,
Tax Credits ,
Tax Liability ,
Tax Planning ,
Tax Reform ,
Tax Returns ,
U.S. Treasury
On February 13, 2025, a Tennessee federal district court handed FedEx Corporation its second win in a refund action involving the application of foreign tax credits to what are known as “offset earnings.”[1] Offset earnings...more
3/13/2025
/ Appeals ,
Chevron Deference ,
Corporate Taxes ,
FedEx ,
Foreign Tax Credits ,
Government Agencies ,
Internal Revenue Code (IRC) ,
IRS ,
Loper Bright Enterprises v Raimondo ,
Offsets ,
Regulatory Requirements ,
SCOTUS ,
Statutory Authority ,
Tax Avoidance ,
Tax Credits ,
Tax Refunds
Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of February 10, 2025 – February 14, 2025.
TAX-CONTROVERSY-RELATED DEVELOPMENTS -
The previous IRS...more
Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the weeks of January 20, 2025 – January 24, 2025, and January 27, 2025 – January 31, 2025....more
Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of January 13, 2025 – January 17, 2025.
TAX CONTROVERSY-RELATED DEVELOPMENTS -
January 15, 2025: The US...more
2/5/2025
/ Appeals ,
Clean Energy ,
Corporate Taxes ,
Dispute Resolution ,
Final Rules ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
IRS ,
Proposed Regulation ,
Renewable Energy ,
Revenue Procedures ,
Tax Credits ,
Tax Planning ,
Tax Reform ,
Tax Returns
On January 22, 2025, the US Department of Justice (DOJ) announced the indictment of seven individuals in the largest Employee Retention Credit (ERC) fraud scheme to date. According to the indictment, the defendants filed more...more
1/29/2025
/ Coronavirus/COVID-19 ,
Criminal Investigations ,
Department of Justice (DOJ) ,
Employee Retention ,
Employer Liability Issues ,
Enforcement Actions ,
Fraud ,
Indictments ,
IRS ,
Paid Family Leave Law ,
Paid Leave ,
Sick Leave ,
Tax Credits ,
Tax Refunds ,
Tax Returns
Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of January 6, 2025 – January 10, 2025....more
1/23/2025
/ Digital Assets ,
Income Taxes ,
IRS ,
Proposed Rules ,
Regulatory Agenda ,
Reporting Requirements ,
Retirement Plan ,
Tax Credits ,
Tax Planning ,
Tax Reform ,
Tax Refunds ,
Tax Returns
Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of December 30, 2024 – January 3, 2025. December 30, 2024: The IRS released Internal Revenue Bulletin 2025-1,...more
Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of December 23, 2024 – December 27, 2024....more
1/9/2025
/ Compliance ,
Digital Assets ,
Employee Retirement Income Security Act (ERISA) ,
Energy Sector ,
Final Rules ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
IRS ,
Renewable Energy ,
Reporting Requirements ,
Tax Credits
Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of December 16 – 20, 2024. ...more
1/2/2025
Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for November 25, 2024 – December 13, 2024....more