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IRS Agrees to Share Taxpayer Return Info with ICE

An agreement between the IRS and U.S. Immigration and Customs Enforcement (ICE) allows immigration officers to access certain taxpayer return information during criminal investigations. The move may raise concerns for...more

Ruling Allows IRS to Automate Review of Employee Retention Credit Claims

A federal court has upheld the IRS’s right to use automated tools to review Employee Retention Credit (ERC) claims, rejecting a challenge brought by two tax preparation firms. In ERC Today LLC v. McInelly, the U.S. District...more

Trump and Congress Nullify IRS Reporting Rule for Digital Assets

The federal rule that would have required crypto platforms to report users’ transactions to the IRS has officially been scrapped. President Trump signed a joint congressional resolution overturning the so-called DeFi...more

No Check, Please! Trump Orders US Treasury Department to Go Digital-Only

The federal government is putting paper checks on notice. In an Executive Order (EO) signed on March 25, President Trump directed the Department of the Treasury to stop issuing — and accepting — paper checks for nearly all...more

IRS Layoffs May Mean Longer Waits, Audit Delays and Tax Court Battles

The Internal Revenue Service (IRS) is expected to lay off approximately 7% of its workforce in the coming weeks, with the possibility of further reductions. It remains unclear which divisions will be most affected or whether...more

Property Tax Relief Available for Los Angeles County Residences Damaged or Destroyed by Wildfires

In the wake of the ongoing wildfires in Los Angeles County, our heart goes out to all those affected by this devastating disaster. The destruction has been overwhelming to witness, and the loss of homes, businesses and lives...more

High Time for Cannabis Businesses to Start Tax Planning

Cannabis businesses should prepare now for certain tax benefits since the Drug Enforcement Administration’s (DEA) recent recommendation to reschedule cannabis from a Schedule I controlled substance to a Schedule III...more

State and Local Tax Implications of Having Hybrid and Remote Employees

The number of hybrid and remote employees has greatly increased since the onset of the pandemic. As of February 2022, 39% of remote-capable employees were fully remote, 42% were hybrid and only 19% were fully on-site,...more

Overview of Some Changes in the Inflation Reduction Act of 2022

President Joe Biden signed the Inflation Reduction Act of 2022 (the “IRA”) into law on Aug. 16, 2022, resulting in significant changes to the Internal Revenue Code. An overview of a few of the changes is below....more

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