Tax Impacts
Sort by:
15 results
August 20, 2024
|4 min read
Second Employee Retention Credit Voluntary Disclosure Program Provides Relief for Some Employers
self-report that they erroneously received credits for the 2021 tax year.
October 26, 2023
|4 min read
as most might suggest, a reversal of course—departed from the IRS that many have come to know in recent years, maligned by funding cuts, widespread
attrition, and loss of institutional knowledge needed to administer the nation’s complex set of federal tax laws.
October 2, 2023
|4 min read
IRS Backtracks on Penalties and Seeks to Settle Case Involving Backdated Documents
September 14, 2023
|6 min read
Tax Court Reproach of “Cut-and-Paste” Notice Another Blow to IRS Documentation Credibility
the taxpayer is the latest in a string of rebukes from the Court and Congress questioning the IRS’s ability to retain credible and complete records.
August 31, 2023
|5 min read
Fallout from Backdated Documents Lands IRS in Hot Seat
imposing sanctions on the IRS. Further inquiries ensued as to whether the IRS also proffered backdated penalty documents in other similar cases, hinting at a
troubling picture of potentially systemic issues within the IRS.
August 18, 2023
|1 min read
IRS Clarifies Federal Credit Unions May Claim Employee Retention Credit For 2021
Employee Retention Credits under the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) and the Internal Revenue Code.
August 7, 2023
|4 min read
Winston & Strawn Tax Impacts Monthly Tax Controversy Update – July 2023
Employee Retention Credit (ERC), and highlight recent IRS guidance as to the taxation of staking rewards within the cryptocurrency space.
July 31, 2023
|5 min read
IRS Cites Progress as House Committee Hearing Seeks Solutions to Employee Retention Tax Credit Woes
(R-AZ-01) announced the Subcommittee’s hearing on “The Employee Retention Tax Credit Experience: Confusion, Delays, and Fraud” to be held the following
Thursday. The announcement served to kick-off an unusually busy seven days of Employee Retention Tax Credit (ERTC) related activity in Washin...Read more
April 17, 2023
|7 min read
August 17, 2022
|2 min read
Biden Signs the Inflation Reduction Act of 2022 into Law
Internal Revenue Code and provides additional resources for the IRS.
August 8, 2022
|3 min read
Senate Passes Inflation Reduction Act: Latest From the Hill
week. The Act’s passage follows a busy weekend on the Hill, which included lawmakers forging ahead with the comprehensive reconciliation bill with formal
debate and the Senate voting Sunday 51 to 50 to pass the reconciliation bill, with Vice President Kamala Harris casting the tie-breaking vote.
July 28, 2022
|1 min read
Deal on Senate Reconciliation Bill Announced, Major Tax Provisions Within
Reduction Act of 2022—containing significant changes to federal tax policy and IRS administration.
April 7, 2022
|4 min read
and investors.
December 15, 2021
|1 min read
Insurance Tax Update – IRS Releases Rev. Proc. 2021-54 Providing Unpaid Loss Discount Factors
losses and discounted estimated salvage recoverable.
November 30, 2021
|1 min read
IRS Initiative to Target Large Partnerships Takes Aim October 1
Compliance (LPC) Program within the next two weeks.
About This Blog
Winston & Strawn’s Tax Impacts series features timely updates and insights impacting taxpayers, spanning from federal, international, and state and local tax planning to controversy.
