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Regulatory Reform › Internal Revenue Service › Taxation

Eversheds Sutherland (US) LLP

IRS issues interim guidance to streamline LB&I audit procedures and promote alternative settlement programs

Eversheds Sutherland (US) LLP on

On July 25, 2025, the IRS Large Business & International (LB&I) Division published an Interim Guidance Memorandum (Control Number: LB&I-04-0725-0008) implementing changes for LB&I audit procedures, which take effect August 1,...more

Fox Rothschild LLP

Trump and Congress Nullify IRS Reporting Rule for Digital Assets

Fox Rothschild LLP on

The federal rule that would have required crypto platforms to report users’ transactions to the IRS has officially been scrapped. President Trump signed a joint congressional resolution overturning the so-called DeFi...more

Cadwalader, Wickersham & Taft LLP

IRS Shifts Position on Basis-Shifting Regulations

Cadwalader, Wickersham & Taft LLP on

On April 17, the Internal Revenue Service issued a notice announcing its plans to withdraw a set of controversial regulations, finalized in January of this year, aimed at transactions designed to shift tax basis in...more

McDermott Will & Schulte

IRS Roundup April 1 – April 17, 2025

McDermott Will & Schulte on

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

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