Supreme Court Docket: Petition for Review Filed in False Tax Return Case
A petition for review was filed in the following case: T. Chang, CA-9—The district court did not abuse its discretion by including the “filing” element…
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Supreme Court Docket: Petition for Review Filed in Tax Deficiency Case
A petition for review was filed in the following case: Diebold Foundation, Inc., CA-2—A foundation was liable for a tax deficiency as a transferee of…
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Illinois Sales Tax Advice on ICOs
A company that wanted to launch a business in Illinois through an ICO sought sales tax advice on issuing utility tokens in the ICO. The…
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Top House Democrats Ask IRS for Information on New Individual 2018 Form 1040
Top Democrats on the House Ways and Means Committee have asked the IRS for information on the new individual 2018 Form 1040. The lawmakers’ inquiry…
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JCT Clashes with IRS over How to Value Employers’ Parking Expenses
The IRS method for valuing employer parking expenses contradicts the Joint Committee on Taxation (JCT)’s “Blue Book.” The Blue Book, officially known as the General…
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Opportunity Zone’s Tax Writers, Stakeholders Criticize IRS’s 50-Percent Locational Rule
The IRS’s proposed 50-percent gross income locational rule on the active conduct of Opportunity Zone businesses is garnering criticism from stakeholders and lawmakers alike. The…
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Tax Reform Benefits Seen in Larger Paychecks, Not Refunds, Treasury Spokesperson Says
The average refund amount at the beginning of the 2019 tax filing season was smaller than this time period last year, a new IRS report…
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Weekly Report from Washington, D.C.
During the week of February 11, President Donald Trump was unhappy with a new bipartisan, bicameral spending package drafted to avert another government shutdown. The…
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Senate Approves Bipartisan IRS, Treasury Funding Bill; Grassley Pushes for Tax Extenders
The Senate approved a bipartisan government spending bill on February 14 by an 83-to-16 vote to avert another partial government shutdown. The minibus spending package,…
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Safe Harbor Coordinates 100% Bonus Depreciation and Luxury Car Depreciation Caps
A new IRS safe harbor coordinates 100% bonus depreciation with the annual depreciation caps for luxury cars. The long-expected safe harbor lets vehicle owners deduct…
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