On February 13, 2025, a Tennessee federal district court handed FedEx Corporation its second win in a refund action involving the application of foreign tax credits to what are known as “offset earnings.”[1] Offset earnings...more
3/13/2025
/ Appeals ,
Chevron Deference ,
Corporate Taxes ,
FedEx ,
Foreign Tax Credits ,
Government Agencies ,
Internal Revenue Code (IRC) ,
IRS ,
Loper Bright Enterprises v Raimondo ,
Offsets ,
Regulatory Requirements ,
SCOTUS ,
Statutory Authority ,
Tax Avoidance ,
Tax Credits ,
Tax Refunds
Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of February 10, 2025 – February 14, 2025.
TAX-CONTROVERSY-RELATED DEVELOPMENTS -
The previous IRS...more
Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the weeks of January 20, 2025 – January 24, 2025, and January 27, 2025 – January 31, 2025....more
On January 22, 2025, the US Department of Justice (DOJ) announced the indictment of seven individuals in the largest Employee Retention Credit (ERC) fraud scheme to date. According to the indictment, the defendants filed more...more
1/29/2025
/ Coronavirus/COVID-19 ,
Criminal Investigations ,
Department of Justice (DOJ) ,
Employee Retention ,
Employer Liability Issues ,
Enforcement Actions ,
Fraud ,
Indictments ,
IRS ,
Paid Family Leave Law ,
Paid Leave ,
Sick Leave ,
Tax Credits ,
Tax Refunds ,
Tax Returns
Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of January 6, 2025 – January 10, 2025....more
1/23/2025
/ Digital Assets ,
Income Taxes ,
IRS ,
Proposed Rules ,
Regulatory Agenda ,
Reporting Requirements ,
Retirement Plan ,
Tax Credits ,
Tax Planning ,
Tax Reform ,
Tax Refunds ,
Tax Returns