This week on tax break, host Rob Kovacev and guest John Schoenecker, Government Relations and Regulatory Strategy Director of TaxBit, discuss the recently proposed regulations under IRC 6045, particularly concerning additional reporting requirements for digital asset transactions.  ********* Questions? Contact us at podcasts@milchev.com. tax break is not intended and cannot be relied on as legal advice; the content only reflects the thoughts and opinions of its hosts. tax break is a podcast about tax law, brought to you by Miller & Chevalier and hosted by Loren Ponds and Rob Kovacev ..read more

This week on tax break, host Rob Kovacev interviews fellow Miller & Chevalier Tax Member George Hani on the various procedures the IRS offers for resolving tax disputes short of litigation. The IRS offers alternative dispute resolution (ADR) procedures to taxpayers before, during, and even after the traditional IRS Appeals process. George provides insight into these procedures and how taxpayers can best utilize them to their advantage. ********* Questions? Contact us at podcasts@milchev.com. tax break is not intended and cannot be relied on as legal advice; the content only reflects the th ..read more

This week on tax break, host Rob Kovacev is joined by former IRS Commissioner and Miller & Chevalier Senior Counsel Larry Gibbs to discuss the IRS's Strategic Operating Plan and where the IRS should devote its additional funding from the Inflation Reduction Act. ********* Questions? Contact us at podcasts@milchev.com. tax break is not intended and cannot be relied on as legal advice; the content only reflects the thoughts and opinions of its hosts. tax break is a podcast about tax law, brought to you by Miller & Chevalier and hosted by Loren Ponds and Rob Kovacev. We'll provide you wit ..read more

This week, host Rob Kovacev is joined by Miller & Chevalier colleagues Joe Rillotta and Ian Herbert to discuss tax enforcement under state False Claims Acts.   The False Claims Act has been around at the federal level since the 1860s.  It generally provides for civil penalties and qui tam enforcement in instances where there is a fraud on the government, and it was actually passed to address procurement fraud during the Civil War.  A lot of states have passed their own versions of the False Claims Act, based on the federal statute.  But tax controversy and complian ..read more

And we're back! In our season 2 premiere, hosts Loren Ponds and Rob Kovacev discuss the latest Chief Counsel Advice Memorandum outlining more burdensome procedures for taxpayers requesting R&E credit refund claims. They'll outline the content of the new memo, discuss APA implications of rulemaking in the form of a CCM, give takeaways for taxpayers, and make some observations on litigating refund claim suits from both the perspective of representing the taxpayer and representing the government. ********* Questions? Contact us at podcasts@milchev.com. tax break is not intended and cannot be ..read more

With the action by Liberty Global in November of last year, we have the first challenge to the validity of the Temporary Regulations under section 245A. We discuss those regulations and some of the arguments we will see in that case.  Topics discussed: 1. The section 245A deduction, the “GILTI donut hole,” and what the Temporary Regulations do to address that “donut hole” 2. Liberty Global’s complaint 3. Assessment of Liberty Global’s arguments that the Temporary Regulations are invalid ********* Questions? Contact us at podcasts@milchev.com. tax break is not intended and cannot be relied ..read more

Loren and Steve will discuss the tax proposals included in the American Jobs Plan, which are meant to fund large infrastructure investments the Biden administration plans to make. Topics addressed will include proposed modifications to the GILTI, BEAT, and FDII regimes, as well as new provisions like the minimum tax on book income and a carrot/stick approach to addressing U.S. multinationals’ onshoring and offshoring activities. ********* Questions? Contact us at podcasts@milchev.com. tax break is not intended and cannot be relied on as legal advice; the content only reflects the thoughts ..read more

In this episode, Loren and Steve speak with Mike Cragg from The Brattle Group about economics and transfer pricing valuations.  Over time, the modes of economic valuation for transfer pricing purposes have become predictable and sometimes rote. Are there other ways to skin the proverbial cat? On this episode, we discuss some possible novel approaches with Mike Cragg, an experienced economist and the Principal & Chairman at The Brattle Group. In particular, we’ll discuss the role that insights from antitrust economics and notions of minority discounts might play in transfer pricing val ..read more

Facebook is embroiled in a transfer pricing dispute with the IRS in Tax Court. This week on tax break, Steve and Loren conclude their discussion of what's at issue in the case. Listen to part 1 of the discussion in Episode 14. Topics discussed: Basics of the dispute Whether aggregation of the three disputed royalties is reliable here Pricing the Platform Contribution Transaction royalty Challenge to validity of the -7T regulations Nature of the User Base and associated royalty Subsequent legal changes and changes to structure ********* Questions? Contact us at podcasts@milchev.com. tax ..read more

This week, Steve and Loren discuss the results of the joint Miller & Chevalier and National Foreign Trade Council 2021 Tax Policy Forecast Survey with Miller & Chevalier Tax Member Marc Gerson. View the survey here: https://bit.ly/taxpolicy2021  Topics discussed: Genesis of the survey Design of its questions Expectations for results Surprises in those results Other observations on the results Thanks to our guest, Marc Gerson: https://www.millerchevalier.com/professional/marc-j-gerson  **** Questions? Contact us at podcasts@milchev.com. tax break is not intended and can ..read more