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Court in Texas Strikes Down Anti-Inversion Regulations

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The anti-inversion regulations issued by Treasury in 2016 were held unlawful due to lack of a notice-and-comment period under the Administrative Procedure Act (APA). The U.S. District Court for the Western District of Texas concluded that the regulations were unlawfully issued without adherence to the APA’s notice-and-comment requirements. The court stated that, where an agency […]

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Joshua Wu discusses tax consequences from damages and theft in the sharing economy (Tax Notes)

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In his article for Tax Notes, Joshua Wu explores the tax consequences that result from damaged, destroyed, or stolen property in the ride-sharing and home-sharing economies. Specifically, the article considers how the host or driver treats insurance payments and security deposits for tax purposes, when a host or driver may deduct insurance premiums, and when the […]

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IRS Establishes Small Business/Self-Employed Fast Track Settlement Program

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On March 20, 2017, the IRS issued Rev. Proc. 2017-25 to formally establish the Small Business/Self-Employed Fast Track Settlement program (SB/SE FTS) to provide an expedited format for resolving tax controversies. The process employs various alternative dispute resolution techniques to promote case resolution.  An Appeals Officer mediates between the parties, and either the taxpayer or […]

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Greaves | Wu quoted by Spark Business regarding tax changes and small businesses

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Joshua Wu was quoted by Capital One’s Spark Business publication regarding new tax proposals that could impact small business owners. Some of the potential changes and issues for small business include:  Reduced pass-through business rates “Some lawmakers have proposed reducing the business income tax rate of pass-through entities—such as S corporations, most LLCs and partnerships—to […]