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On April 25, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued final regulations (Final Regulations) on tax credit transfers pursuant to Section 6418 of...
Farhy challenged whether the IRS had the legal authority to assess section 6038 penalties. The Tax Court said no, but on appeal, the D.C. Circuit disagreed.
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
The question raised in Mukhi was similar to that in Farhy—and the Tax Court wasn’t willing to deviate from that ruling.
The U.S. Treasury Department's Office of Foreign Assets Control (OFAC), in coordination with the United Kingdom, issued two new prohibitions Friday, April 12, 2024...