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Technology Internal Revenue Service

Holland & Knight LLP

Breaking Down the New Domestic Content Safe Harbor Guidance

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The IRS issued Notice 2024-41 on May 16, 2024, which provides updated guidance regarding the domestic content bonus credit under Sections 45, 48, 45Y and 48E of the Internal Revenue Code. The new notice modifies previously...more

DarrowEverett LLP

New Domestic Content Adder Guidance: ‘Buy American’ is Back

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On May 16, 2024, the Department of the Treasury and the IRS announced the release of Notice 2024-41, which clarifies the safe harbor for classification of project components created in Notice 2023-38 and provides a new safe...more

Skadden, Arps, Slate, Meagher & Flom LLP

With New Technology and New Hires, the IRS Aims To Audit More Effectively While Improving Taxpayer Services

New Funding, New Focus - With some $80 billion in initial funding from the Inflation Reduction Act (IRA), the Internal Revenue Service (IRS) began ramping up taxpayer services, issue resolution planning, compliance and...more

Perkins Coie

Domestic Content Adder Guidance: Hits and Misses

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The U.S. Department of the Treasury (Treasury) issued Notice 2023-38 (the Notice) on May 12, 2023, which contains the first rules concerning the domestic content bonus credits for renewable electricity, renewable natural gas,...more

Miller Canfield

The IRS Achievement: No One Gets Research Credits

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A Treasury regulation provides that a researcher performing technological research for its customer is not entitled to federal income tax credits for the cost of the research if the researcher does not retain substantial...more

DarrowEverett LLP

Not Your Keys, Not Your Coins: How to Stay Safe in 'Wild West' of Crypto

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Satoshi Nakamoto’s invention of Bitcoin in 2009 opened the door to rethinking the way value can be transferred and stored. However, crypto markets have long been considered by most analysts and attorneys as the “Wild West” of...more

Skadden, Arps, Slate, Meagher & Flom LLP

Skadden’s 2023 Insights – Five Critical Areas for the Year Ahead

The pandemic’s impact may be subsiding, but businesses are encountering new challenges across the globe, including the potential for an economic retrenchment, rising interest rates, shifting regulatory and litigation...more

McDermott Will & Emery

Key Takeaways | Technology-Neutral Tax Credits: When Will ITC and PTC Disappear?

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During this webinar, McDermott Partners Heather Cooper and Joel Hugenberger hosted Jay Chang, managing director at CCA Group, for a discussion on how the new technology-neutral tax credit will work and how it may impact the...more

McDermott Will & Emery

IRS Continues Focus on Hiring and Modernization of Technology

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We previously discussed the Internal Revenue Service’s (IRS) efforts to adjust to a remote environment by offering video meetings and secure messaging systems in order to maintain an efficient audit process. We also...more

Jackson Lewis P.C.

Reimbursements And Remote Work 101

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In March 2020, many employers suddenly found themselves managing a mostly remote workforce due to COVID-19. As the pandemic stretches on, some businesses remain remote because of necessity, while others are considering the...more

McDermott Will & Emery

Specific Identification of Virtual Currency Positions

The IRS views convertible virtual currency as property, not foreign currency. As such, taxpayers must record and track the tax basis of each unit of virtual currency held in order to property report taxable gain or loss when...more

Opportune LLP

The Evolution of Tax Technology

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Implementing innovative tax technology helps companies stay ahead of the curve by improving tax filing workflows and historical record-keeping....more

Brownstein Hyatt Farber Schreck

Taxation & Representation, January 2019

TAX TIDBIT - Welcome to the 116th Congress! Congressional members have been sworn in and are back in Washington. The big caveat — the U.S. government remains shut down for the foreseeable future as we hurtle towards tax...more

Foodman CPAs & Advisors

What is a Virtual Currency Taxable event?

There continues to be limited Virtual Currency (VC) guidance from the US Treasury and the IRS and VC investors ought to proceed cautiously. IRS continues to make reference to Notice 2014-21 to remind Taxpayers that VC...more

Foodman CPAs & Advisors

El IRS está pendiente al Cripto

El Jefe de Investigación Criminal del IRS, Don Fort, declaró recientemente: "Es posible utilizar Bitcoin y otras Criptomonedas de la misma manera que las cuentas bancarias extranjeras para facilitar la evasión de impuestos"....more

Ballard Spahr LLP

2016 Year End Review: Virtual Currency: DOJ and IRS Broadly Seek Virtual Currency Account User Information

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Under Internal Revenue Code section 7609(f), the IRS may issue a “John Doe” administrative summons to discover the identities of unknown taxpayers. A “John Doe” summons can be a powerful enforcement tool because it allows the...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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The IRS isn’t waiting around for virtual currency to gain wider acceptance. No, it’s more than happy to go after Bitcoin users who have sought to use the virtual currency as a means of evading taxes....more

Balch & Bingham LLP

2015 Form 1095-C Reporting: IT Vendor Survey

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On August 18, 2014, we posted our, “First Look at ACA Employer Compliance Software.” It’s time for an update. We invited less than a dozen vendors to answer these twenty-two questions....more

Gray Reed

IRS Computer Technology is Woefully Inadequate

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CNN recently released a fascinating look at the computers the IRS uses in “IRS Says It’s Using Technology From JFK’s Time.” IRS Commissioner John Koskinen states that the IRS computer system is “like driving a Model T that...more

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