July 15, 2024
Big Companies Get Boost in Tax Dispute
Wall Street Journal
Quoted: Chye-Ching Huang on the impact of the Supreme Court’s Loper Bright ruling on tax law.
July 9, 2024
Chevron ruling’s hydrogen ripple effects
Axios Pro (Subscription Required)
Quoted: Mike Kaercher on the impact of the Supreme Court’s Loper Bright ruling on the Inflation Reduction Act: “It’s important to remember that Treasury and IRS are issuing the bulk of the rules related to the IRA under broad and explicit grants of authority from Congress.”
July 1, 2024
Treasury Finalizes Crypto Reporting Rules
Tax Notes (Subscription Required)
Quoted: Chye-Ching Huang's statement on the finalized regulations for broker reporting of digital asset transactions.
July 1, 2024
IRS Finalizes Broker Rules For Digital Asset Sales
Law360 (Subscription Required)
Quoted: Chye-Ching Huang's statement on the finalized regulations for broker reporting of digital asset transactions.
June 27, 2024
High Court’s Moore Ruling Sharpens Wealth-Tax Debate
Bloomberg Tax: Talking Tax Podcast
Interviewed: Chye-Ching Huang on the Supreme Court’s decision in Moore vs. US. “The court very correctly declined two of the Moores’ big requests… to issue an overbroad advisory opinion effectively on hypothetical wealth taxes… and to impose their request for a novel constitutional requirement that income be realized before it is taxed.”
June 21, 2024
Supreme Court Says Transition Tax Is Constitutional in Narrow Ruling
Tax Notes (Subscription Required)
Quoted: Chye-Ching Huang’s statement in response to the decision in Moore v. US.
June 20, 2024
Tax Code Chaos Averted in Top Court Ruling but Worry Lingers
Bloomberg Tax (Subscription Required)
Quoted: Chye-Ching Huang’s statement in response to the decision in Moore v. US.
June 20, 2024
Supreme Court upholds Trump-era tax provision on offshore earnings
Washington Post
Quoted: Chye-Ching Huang’s statement in response to the decision in Moore v. US.
June 20, 2024
Supreme Court upholds a tax on corporate wealth held overseas
Los Angeles Times
Quoted: Chye-Ching Huang’s statement in response to the decision in Moore v. US.
June 20, 2024
Justices uphold Trump tax on overseas investments in win for Biden
CNN
Quoted: Chye-Ching Huang’s statement in response to the decision in Moore v. US.
June 17, 2024
The IRS wants to end another major tax loophole for the wealthy and raise $50 billion in the process
AP News
Quoted: Miles Johnson on new guidance from Treasury and the IRS addressing “basis shifting” transactions used by partnerships: “these transactions effectively make income disappear from the tax system by creating depreciation deductions or other tax reductions that don’t reflect any true economic cost.”
June 17, 2024
Treasury Says Partnership Crackdown Could Raise Over $50B
Law360 (Subscription Required)
Quoted: Chye-Ching Huang on new guidance from Treasury and the IRS addressing “basis shifting” transactions used by partnerships: "it's good to see Treasury and the IRS tackling aggressive, tax-motivated transactions with guidance that makes clear upfront that some of them are simply not lawful, and that others will require disclosure by taxpayers and draw IRS scrutiny.”
June 12, 2024
Campaign Underway to Repeal the Corporate Transparency Act
Tax Notes (Subscription Required)
Mentioned: The Tax Law Center’s amicus brief on National Small Business United et al. v. U.S. Department of the Treasury.
June 4, 2024
DOJ Says Transparency Act Fourth Amendment Claim Is Meritless
Tax Notes (Subscription Required)
Mentioned: The Tax Law Center’s amicus brief on National Small Business United et al. v. U.S. Department of the Treasury.
May 22, 2024
Refundable Credit Audits Should Reflect Equity, GAO Says
Tax Notes (Subscription required)
Quoted: Chye-Ching Huang on Tax Law Center recommendations to reduce racial disparities in refundable credit audits.
May 20, 2024
More Flexibility Urged for Energy Tax Credit Direct Pay Option
Bloomberg Tax (Subscription required)
Mentioned: The Tax Law Center’s comment letter to Treasury and IRS on qualifications for direct pay for clean energy credits.
April 30, 2024
Corporate Transparency Act Case Wrongly Decided, Say Lawmakers
Thomson Reuters
Quoted: Thalia Spinrad on the amici briefs filed in support of the government which explain “that the district court’s decision was severely flawed on many fronts."
April 27, 2024
Tax Breaks: New Laws And Budget Proposals—Including One That's Out Of This World
Forbes
Mentioned: The Tax Law Center’s new online tool, the interactive Tealbook, which offers over 50 options for policymakers to improve the integrity of the tax system.
April 24, 2024
Lawmakers Join Fight Over Transparency Act’s Constitutionality
Tax Notes (Subscription required)
Mentioned: The Tax Law Center’s amicus brief on National Small Business United et al. v. U.S. Department of the Treasury.
April 22, 2024
Democrats Urge Appeals Court to Revive Anti-Money Laundering Law
Bloomberg Law (Subscription required)
Mentioned: The Tax Law Center’s amicus brief on National Small Business United et al. v. U.S. Department of the Treasury.
April 22, 2024
Congress Can Enact Corp. Transparency, Orgs Tell 11th Circ.
Law360 (Subscription required)
Mentioned: The Tax Law Center’s amicus brief on National Small Business United et al. v. U.S. Department of the Treasury.
March 27, 2024
Inside Government Crackdown on Corporate Jet Tax Abuse
Bloomberg Tax: Talking Tax Podcast
Interviewed: Mike Kaercher about the IRS' current SIFL regs: "It’s hard to come up with a reason the US government should be providing subsidies in the form of tax expenditures for companies and executives using private jets."
March 1, 2024
‘Huge tax breaks’: private equity prepares for a boon from Congress
The Guardian
Quoted: Chye-Ching Huang’s testimony for the hearing “Examining How the Tax Code Affects High-Income Individuals and Tax Planning Strategies,” where she explains that retroactive tax breaks for income from wealth are a poor investment.
February 27, 2024
Corporate jet users brace for more IRS audits
The Hill
Quoted: Mike Kaercher: “As the IRS focuses on private jets, it should revisit how it values personal use of corporate aircraft. The current rules allow these flights to be significantly undervalued, enabling wealthy filers to pay much less in taxes than fair market value would dictate, and it’s within the IRS’ authority to revise these rules.”
February 26, 2024
Corporate Jet Industry Pushes Back on IRS Audit Campaign
Bloomberg Law (Subscription required)
Quoted: Mike Kaercher said the IRS should reconsider some regulations in concert with the enforcement of the tax code related to corporate jets.
February 26, 2024
Hydrogen industry preps legal challenge to Biden tax rules
POLITICO
Quoted: Mike Kaercher on Treasury’s pending tax rules for low-carbon hydrogen production: “Any regime that does not properly account for significant indirect emissions would violate the law.”
February 26, 2024
Efforts to Lure Private Placement Life Insurance Came at a Cost
Tax Notes (Subscription required)
Chye-Ching Huang’s November 2023 testimony before the Senate Finance Committee: “tax subsidies for income from wealth are a poor investment.” She added that those subsidies “increase deficits, widen inequality, and spur complex tax avoidance and evasion that locks up capital and talent that could be used for more productive work and innovations.”
February 22, 2024
IRS to go after executives who use business jets for personal travel in new round of audits
Washington Post
Quoted: Mike Kaercher ‘s statement that the IRS should revisit how it values personal use of corporate aircraft, beyond just how flights are reported: “The current rules allow these flights to be significantly undervalued, enabling wealthy filers to pay much less in taxes than fair market value would dictate, and it’s within the IRS’ authority to revise these rules.”
February 22, 2024
IRS Gears Up for Corporate Jet Dogfight
Tax Notes (Subscription required)
Quoted: Mike Kaercher discusses the IRS’s announcement on audits of corporate jet usage and suggests the IRS revisit how it values personal use of corporate aircraft.
February 21, 2024
IRS to go after executives who use business jets for personal travel in new round of audits
Associated Press
Quoted: Mike Kaercher in a statement that the IRS should revisit how it values personal use of corporate aircraft, beyond just how flights are reported.
February 15, 2024
All Eyes on Werfel to Justify IRS’s 1099-K Nonenforcement
Tax Notes (Subscription required)
Quoted: Chye-Ching Huang in a Tax Law Center report on “Improving Categorical Non-Enforcement in the Tax System.”
February 9, 2024
IRS Delays on Tax Law Deadlines Need Transparency, Report Finds
Bloomberg Tax (Subscription required)
Quoted: The Tax Law Center's report on improving categorical non-enforcement in the tax system.
January 12, 2024
US corporations push to roll back Trump-era tax policies they once endorsed
The Guardian
Quoted: Chye-Ching Huang on large business interest that supported the TCJA package as a whole because “it was, on net, delivering large, permanent tax cuts," and the many lawmakers that at the time “were already looking for ways to prevent … those other tax increases on companies from ever coming into full effect.”