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 […]

U.S. Court of Appeals Rejects Streamlined Procedures Transition for OVDP Participants

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Written by Kamil Turkmani and Joshua Wu The United States Court of Appeals for the D.C. Circuit recently affirmed the district court’s decision in Maze v. Internal Revenue Service on July 14th, 2017. In citing the Anti-Injunction Act (“AIA”) of 28 U.S.C. §7421(a), the court held that the federal courts lacked subject matter jurisdiction to […]

IRS Releases Proposed Partnership Audit Regulations to Federal Register

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The IRS released the highly-anticipated proposed regulations for the new partnership audit regime on June 13, 2017.  The proposed regulations were released to, but not published in, the Federal Register earlier this year. Congress passed the new rules as part of the Bipartisan Budget Act of 2015 (“BBA”) to repeal and replace the prior unified […]

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 […]

Travis and Josh to speak at API’s Federal Tax Forum on April 24, 2017

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Travis and Josh will be speaking at the 83rd Annual American Petroleum Institute (API) Federal Tax Forum on April 24, 2017. They will discuss the new partnership audit rules under the Bipartisan Budget Act of 2015 (BBA). These new rules will have a tremendous impact on oil and gas partnerships, limited liability companies (LLCs) and […]

Greaves | Wu quoted by Fit Small Business regarding ways to help clients with payroll tax issues

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Joshua Wu was quoted by Fit Small Business regarding avenues to deal with unpaid payroll taxes. “There are a number of ways a business can work with the IRS to settle outstanding payroll tax liabilities” according to T. Joshua Wu, Partner at Greaves Wu. “These range from installment agreements to offers in compromise to currently […]

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 […]

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 […]