November 28, 2022
ABA Tax Section Applauds Continued Use of Videoconferencing by Appeals
Tax Notes (Subscription required)
Mentioned: The Tax Law Center’s comment, which articulates why the proposed regulations regarding the IRS Independent Office of Appeals correctly exclude from Appeals’ consideration (1) decisions regarding certain types of letter rulings; and (2) certain cases concerning challenges to the constitutionality of a statute or the validity of regulations or administrative guidance. The comment also recommends strengthening the second exclusion.
November 23, 2022
Tax Law Center Recommends Increased Limitations on Mega-IRAs
Tax Notes (Subscription required)
Mentioned: The Tax Law Center recommended Treasury to strengthen protections against investments in non-public assets and self-dealing in “Mega-Roths” in a comment on the fiscal 2024 green book.
October 31, 2022
IRS finds number of unpaid taxes rises, fueling growth of 'tax gap'
The National Desk
Quoted: Kathleen Bryant explains the importance of strengthening information reporting requirements and the Inflation Reduction Act's investment in the IRS for reducing tax non-compliance.
October 13, 2022
SEC Statement Highlights Role of Auditors in Corporate AMT Regime
Tax Notes (Subscription required)
Quoted: Peter Richman mentions the important role of auditors and the Public Company Accounting Oversight Board in the new corporate AMT regime and Treasury’s authority under section 56A(c)(15)(A) “to address any issues that might flow from fraud or nonfraudulent misstatements.”
October 11, 2022
Researchers Eye Transparency in Clean Energy Tax Credits
Tax Notes (Subscription required)
Quoted: Michael Kaercher said that Treasury should adopt appropriate recordkeeping and information reporting requirements to ensure compliance with the law, and to evaluate the impacts of the climate tax provisions.
September 29, 2022
EY Asks Treasury to Exempt More M&A Gains From Corporate AMT
Tax Notes (Subscription required)
Mentioned: The Tax Law Center’s comment letter with initial recommendations for guidance concerning corporate alternative minimum tax implementation.
September 26, 2022
The 2022 Corporate AMT
Tax Notes (Subscription required)
Mentioned: In the Tax Law Center’s blog piece, “Last Corporate Tax Provision Standing: The Corporate Minimum Tax,” authors Chye-Ching Huang, Peter Richman, and Sophia Yan describe the corporate minimum tax as imperfect but a sound compromise, given political constraints.
September 8, 2022
Backlog Thwarted IRS’s ‘Well-Planned’ IT Modernization Strategy
Tax Notes (Subscription required)
Quoted: Chye-Ching Huang explains how a new Treasury Inspector General for Tax Administration (TIGTA) report underscores the importance of stable, long-term funding to rebuild the IRS.
September 6, 2022
How I Learned to Stop Worrying about Stock Buybacks
Tax Notes (Subscription required)
Mentioned: Peter Richman’s “Tax Notes cover article” was referenced as an example of a proposal to regulate buybacks.
August 26, 2022
Despite U.S. stalling, global-minimum-tax plan rolls forward elsewhere
National Journal (Subscription required)
Quoted: David Kamin and Rose Jenkins discuss the path forward for the global minimum tax.
August 18, 2022
Tax Specialists Seek IRS Guidance on New Stock Buyback Tax
Bloomberg Tax (Subscription required)
Quoted: Peter Richman notes how the IRS and Treasury will have to determine what constitutes an “economically similar” transaction for purposes of the newly enacted excise tax on stock buybacks.
August 18, 2022
Armed ... auditors? The IRS becomes the latest target of GOP misinformation
The Guardian
Quoted: Chye-Ching Huang explains how the Inflation Reduction Act is intended to reverse the disproportionate decrease in audits for high-income individuals and higher-wealth businesses.
August 17, 2022
Tim Scott mangles false GOP talking point on IRS hounding average taxpayers
PolitiFact
Quoted: Chye-Ching Huang explains the misleading use of analysis from a 2021 Joint Committee on Taxation letter.
August 13, 2022
Billions in New IRS Funding Won’t Be Easy to Spend
Wall Street Journal (Subscription required)
Quoted: Chye-Ching Huang notes limitations on government pay compared to the private sector as a factor in assessing performance.
August 11, 2022
What the Inflation Reduction Act does and doesn't do about rising prices
NPR
Quoted: Chye-Ching Huang notes that the tax increases on corporations are unlikely to have a significant impact on wages, based on recent evidence.
August 11, 2022
Democrats Play Whack-a-Mole as GOP Rages Against IRS Funding
Tax Notes (Subscription Required)
Quoted: Chye-Ching Huang and Michael Kaercher discuss the impact of IRS funding provisions in the Inflation Reduction Act.
August 9, 2022
Estate Tax Proposal Could Lead to Disparities, Lawyers Say
Bloomberg Tax (Subscription required)
Quoted: In a comment, Tabetha Peavey made recommendations on how the IRS and Treasury could modify a deathbed transfer rule in their anti-abuse estate tax guidance to “make the application of the Proposed Regulations consistent across similarly situated taxpayers”.
August 8, 2022
A Regulatory Proposal For Stock Buybacks
Tax Notes (Subscription required)
Author: Peter Richman proposes regulatory and subregulatory reforms to improve the federal income tax treatment of corporate stock buybacks.
August 6, 2022
Democrats Eye a Major Shift in How Corporations Are Taxed
New York Times
Quoted: Peter Richman talks about the corporate minimum tax.
August 4, 2022
Senate Democrats’ spending bill is raising corporate tax questions
Marketplace Morning Report
Interviewed: Chye-Ching Huang on the benefits included in the Inflation Reduction Act for low- and middle-income filers.
August 2, 2022
Funding in Democratic bill could help IRS close $200B-plus tax gap
The National Desk
Quoted: Michael Kaercher explains the need for the IRS funding proposal in the Inflation Reduction Act.
August 1, 2022
Manchin fends off GOP attacks that his $740 billion climate and healthcare bill would raise taxes on Americans
Business Insider
Quoted: Chye-Ching Huang notes how the legislation includes substantial tax benefits to help households afford health insurance coverage, as well as clean energy efficient homes and vehicles.
August 1, 2022
Expensing and loopholes: Gaming out what's next for the Democrats' tax plans
POLITICO Pro (Subscription required)
Mentioned: David Kamin argued corporations are able to pay less than the statutory 21 percent through a menu of actions under current law
August 1, 2022
Tax Orgs Split on Deathbed Planning Rule in Anti-Clawback Regs
Tax Notes (Subscription required)
Mentioned: In a comment, Tabetha Peavey made recommendations on how the IRS and Treasury could modify a deathbed transfer rule in their anti-abuse estate tax guidance.
July 28, 2022
The huge, hidden bonanza in getting Joe Manchin to yes
Washington Post
Quoted: Chye-Ching Huang notes that IRS funding in the proposed reconciliation package aims to ensure wealthy filers and large corporations pay taxes owed under the law.
July 27, 2022
One more reconciliation curveball?
POLITICO Pro (Subscription required)
Quoted: Michael Kaercher on Sen. Toomey and Sen. Sinema’s latest crypto tax proposal.
July 24, 2022
Biden's global promises held back by politics at home
Washington Post
Quoted: Chye-Ching Huang notes the rockier path forward on international corporate tax reform.
July 14, 2022
Land Conservation Tax Break Under Increasing Scrutiny
Bloomberg Tax: Talking Tax Podcast
Interviewed: Tabetha Peavey explains what syndicated conservation easements are, how they work, and the work the IRS has done about them.
June 13, 2022
White House Adviser Hopeful US Follows EU On Minimum Tax
Law360 (Subscription required)
Quoted: Chye-Ching Huang spoke on a panel about current tax laws for US multinationals and proposals to change them.
June 13, 2022
Oh my: BBB, international tax and Wayfair
POLITICO
Mentioned: Chye-Ching Huang's and Rose Jenkins’ paper, co-authored with Wendy Edelberg and focused on key proposals related to the international corporate tax system.
May 19, 2022
Watchdog report finds IRS conducting fewer audits, especially on wealthy
The National Desk
Quoted: Kathleen Bryant, on the revenue lost from lower audit rates on higher-income tax filers and the need for additional IRS funding.
May 16. 2022
Panelists Trash IRS’s EITC Correspondence Audit Process
Tax Notes (Subscription required)
Quoted: Kathleen Bryant explains the complexity of the correspondence audit process, which is especially challenging for tax filers with low incomes to navigate.
April 20, 2022
IRS woes continue as agency pleads for more funding to handle your taxes
The National Desk
Quoted: Mike Kaercher explains the need for stable, long-term funding for the IRS to modernize and improve tax administration
April 14, 2022
How companies like Amazon, Nike and FedEx avoid paying federal taxes
CNBC
Quoted: Chye-Ching Huang was interviewed for this video, which aims to explain how companies avoid paying federal taxes.
April 12, 2022
Proposed Payment Watchdog Could Pose Tax Privacy Risk
Law360 (Subscription required)
Quoted: Kathleen Bryant, on needed statutory changes that can reduce error rates for refundable credits.
April 12, 2022
How Strengthening the Corporate Transparency Act Can Help the IRS Follow the Money
Just Security
Author: Sophia Yan explains the critical role of the IRS in enforcing sanctions and combatting illicit financial activity, and how lawmakers and regulators can help by strengthening the Corporate Transparency Act.
March 23, 2022
IRS unit gets no funds to enforce sanctions on rich Russians
AP News
Quoted: Chye-Ching Huang, explaining that the IRS Criminal Investigation division, and the agency at large, needs adequate funding given the federal government’s reliance on the IRS during national and international emergencies.
February 26, 2022
A New Limit on Monetizing Divisive Reorganizations
Tax Notes (Subscription required)
Author: Peter Richman analyzes a proposal in the Build Back Better Act that would significantly change the tax treatment of corporate spinoffs.
February 22, 2022
Weekly tax: How much do you like those credits?
POLITICO
Quoted: Rose Jenkins, on the interaction of the undertaxed payment rule and credits.
February 15, 2022
Social Spending Plan's Demise Risks Reviving ACA 'Tax Cliff'
Law360
Quoted: Chye-Ching Huang, noting that using the tax code to administer social benefits can get more complicated if the funds are targeted towards specific costs.
February 14, 2022
Shale King Harold Hamm Is Passing Billions to His Heirs Tax-Free
Bloomberg
Quoted: Tabetha Peavey on how wealthy families evade estate taxes using holes in the tax system.
February 3, 2022
Global Tax Deal Would Undercut U.S. Tax Breaks, Businesses Warn
Wall Street Journal
Quoted: Rose Jenkins, on the interaction of the global tax deal with US credits.