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Tax Evasion Internal Revenue Service Biden Administration

Fox Rothschild LLP

The Presumption of Innocence Podcast: Episode 60 - Enforcement Priorities of the Second Trump Administration: Employee Retention...

Fox Rothschild LLP on

Five years and two presidential administrations later, tensions remain — with the IRS and tax credit applicants — over the pandemic-era Employee Retention Tax Credit (ERC). While the IRS has been continuing a Biden-era...more

Gerald Nowotny - Law Office of Gerald R....

Taxing Times - June 2021

BIDEN TO INCREASE TAX AUDITS; MAY TARGET SMALL BUSINESSES - The president’s plan to scrutinize the tax returns of the wealthy may also target small businesses. President Joe Biden announced a plan to increase the...more

McDermott Will & Schulte

Biden Administration Proposals Will Greatly Enhance IRS’ Ability to Identify Cryptocurrency Transactions

The Biden Administration and the Internal Revenue Service (IRS) continue to focus heavily on cryptocurrency tax enforcement issues. On May 20, 2021, the US Department of the Treasury (Treasury) released the American Families...more

Foley & Lardner LLP

Biden Administration Proposes Financial Surveillance Regime Likely to Catch Tax-Dodging Small Business Owners

Foley & Lardner LLP on

Under present law, most Americans’ taxable income is reported by both the payor and the payee. Wage income is reported by the employer on a form W-2 and by the employee on an annual tax return. Independent contractor income...more

Holland & Knight LLP

Large Corporations and Wealthy Taxpayers Beware: The Taxman is Coming

Holland & Knight LLP on

Internal Revenue Service (IRS) Commissioner Chuck Rettig on April 13, 2021, told a U.S. Senate panel that the tax gap in the U.S. may total $1 trillion per year. In his view, the increase from prior estimates is due, in part,...more

Gray Reed

IRS Commissioner and President Biden Draw Battle Lines

Gray Reed on

A change in presidential administrations brings with it the uncertainty of what the political, legal and tax landscape will look like in the future. Statements from the Commissioner of the Internal Revenue Service and the...more

Robins Kaplan LLP

Financial Daily Dose 4.28.2021 | Top Story: Resurgent Ad Spending Powers Alphabet to Huge Quarterly Revenue

Robins Kaplan LLP on

Big Tech quarterly earnings season kicked off this week, and Alphabet got things started with a massive $55B in revenue, up 34% from a year earlier thanks largely to a return of its online advertising business and “continued...more

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