On Budget Day, 20 September 2022 (Prinsjesdag), the Dutch Ministry of Finance presented its 2023 tax plan (the Proposal). For the proposed bills discussed in this GT Alert
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The Tide May Be Turning on Flood of ERISA Excessive Fee Class Actions
The contours of plaintiff pleading requirements for ERISA fiduciary breach claims sketched by the Supreme Court in Hughes v. Northwestern University continue to evolve. Recent cases suggest that plaintiffs may
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IRS Revisions to Internal Revenue Manual Clarify Who Is Eligible for Late Filing Penalty Relief
On Aug. 29, the IRS released a new section to the Internal Revenue Manual (IRM), 20.1.1.3.3.2.2, providing penalty relief for certain taxpayers filing 2019 and 2020 returns in response to
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The IRS Grants Penalty Relief for 2019 and 2020, But…
On Aug. 24, 2022, the IRS issued Notice 2022-36, which provides penalty relief to taxpayers for certain late-filed 2019 and 2020 tax returns and information returns, but this relief
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Your Horse May Be Subject to IRS Seizure
Equine industry assets that could be subject to government seizure include real estate, equipment, and the horses themselves, although horses valued below $10,090 are exempt from levy.
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IRS Targets Customers of Cryptocurrency Prime Dealer SFOX in Latest John Doe Summons
On Aug. 15, 2022, a federal court in the Central District of California authorized the Internal Revenue Service (IRS) to serve a John Doe summons on OX Labs Inc. d/b/a
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The Inflation Reduction Act – Key Tax Considerations
This GT Alert provides a high-level summary of key tax provisions of the Inflation Reduction Act, which President Biden signed into law on Aug. 16, 2022.
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New York Provides Tax Credit for Video Game Production
To help offset some production costs associated with producing digital games in New York state, the Department of Economic Development on Aug. 10 issued an emergency regulation (at page 9)
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How the Inflation Reduction Act May Impact the Renewable Energy Industry
This GT Alert outlines how the Inflation Reduction Act, which the House passed Aug. 12 and now heads to the president’s desk, would apply to the renewable energy industry.
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IRS 90-Day Pre-Examination Compliance Pilot
The Internal Revenue Service (IRS) announced a new pilot for retirement plans that became effective in June 2022. The 90-Day Pre-Examination Compliance Pilot gives retirement plan sponsors, who have been
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