On August 29, 2023, the IRS published detailed proposed regulations addressing digital asset broker reporting requirements.
The IRS has received an outpouring of comments in response to proposed regulations on the new transferability provisions for clean energy tax credits. Here are some of the common themes that have emerged from the discussion.
HM Revenue & Customs has announced the abolition of a 1.5% stamp taxation charge.
In recent guidance, the IRS blew the whistle on claims of tax-exempt status by organizations formed to provide opportunities for student athletes to monetize their “name, image and likeness.”
The OECD’s vision for tax transparency and foreign owned real estate.
Liberty Global Inc. ("LGI") and the Department of Justice are in fierce litigation over the application of the economic substance and step transaction doctrines to a transaction for which LGI claimed a dividends received deduction for $2.4 billion in gain from the sale of its Belgian subsidiary Telenet Group Holding. The government seeks to disregard certain steps of the transaction.
The IRS is using artificial intelligence to assist it in selecting 75 large partnerships for examination.