TAXLITIGATOR Blog

Posted by Hochman Salkin Toscher Perez P.C. Posted on Monday, April 24, 2023

The IRS Office of Chief Counsel issued Chief Counsel Advice (“CCA”) 202316008 last Friday regarding the tax consequences of holding a native token to a blockchain distributed ledger that is undergoing a protocol upgrade. Click Here for Full Article

Posted by Hochman Salkin Toscher Perez P.C. Posted on Monday, April 17, 2023

The Tax Court has determined that the IRS lacks authority to assess penalties under IRC § 6038(b) for failing to file Forms 5471, in a recent decision, Farhy v. Commissioner, 160 T.C. No. 6 (T.C. April 3, 2023). As further held by the court, absent such an assessment, the IRS has no administrative authority to pursue […] Read More…

Posted by Hochman Salkin Toscher Perez P.C. Posted on Monday, April 10, 2023

On April 4, 2023, during his ceremonial swearing-in as the 50th IRS Commissioner, Danny Werfel, announced that the IRS’s strategic operating plan for the nearly $80 billion in funding, under the Inflation Reduction Act (IRA), would be issued later that week, stating there would be “real world improvements for every taxpayer, every tax professional, and […] Read More…

Posted by Hochman Salkin Toscher Perez P.C. Posted on Thursday, April 06, 2023

When a taxpayer who has not filed a tax return is contacted by an IRS agent, the taxpayer will be requested to give the delinquent return to the agent. Internal Revenue Manual 4.12.1.7.2.1 (10-05-2010) states that the IRS agent is to “[a]dvise the taxpayer to deliver the returns promptly to the examiner along with a written […] Read More…

Posted by Hochman Salkin Toscher Perez P.C. Posted on Tuesday, April 04, 2023

We are pleased to announce that we have won a major victory in the United State Tax Court with the Court holding the Internal Revenue Service does not have authority under the Internal Revenue Code to assess penalties for the failure to file Forms 5471. Farhy v. Commissioner, 160 T.C. No. 6, (April 3, 2023). The IRS excessive assessment […] Read More…

Posted by Hochman Salkin Toscher Perez P.C. Posted on Thursday, March 16, 2023

On February 28, 2023, the Supreme Court issued its opinion in Bittner v. United States, ___ U.S. ___, 143 S.Ct. 713, 2023 WL 2247233, holding that the non-willful FBAR penalty is applied per annual report and not per account. For the past few years, the IRS has taken the position that it could impose a separate […] Read More…

Posted by Hochman Salkin Toscher Perez P.C. Posted on Tuesday, March 14, 2023

On March 7, 2023, the IRS Office of Professional Responsibility (“OPR”) issued an OPR Alert titled Professional Responsibility and the Employee Retention Credit. This OPR bulletin (Issue Number: 2023-02) (the “OPR Alert”), was issued on the same day the IRS issued IR-2023-40, which renewed an October warning to employers about certain third-party advisors in the […] Read More…

Posted by Hochman Salkin Toscher Perez P.C. Posted on Thursday, March 09, 2023

Help us celebrate our 16th Annual “Tee Off For Tierra!” Charity Golf Tournament, benefiting the people with developmental disabilities that Tierra empowers each day through Workforce Development, College to Career and Careers in the Arts. This year’s tournament will take place at North Ranch Country Club in Westlake Village. Registration fees include cart, swag bag, […] Read More…

Posted by Hochman Salkin Toscher Perez P.C. Posted on Monday, March 06, 2023

We are pleased to announce that Cory Stigile will be speaking at the upcoming OCBA webinar “Internal Revenue Service Scrutiny of the ERC,” Thursday, March 9, 2023, 11:00 a.m. – 12:00 p.m. (PST). This presentation will cover practical considerations for attorneys handling IRS examinations of ERC reported positions. Among other things, attendees will learn about ERC requirements, IRS scrutiny, […] Read More…

Posted by Hochman Salkin Toscher Perez P.C. Posted on Wednesday, March 01, 2023

We are very pleased to announce that we are being featured this month in Forbes and Fortune magazines as leaders in the Southern California legal community. The magazine article and interview focuses on the long history and leadership of our firm specializing in civil and criminal tax controversy and litigation. We are honored to carry on […] Read More…

Posted by Hochman Salkin Toscher Perez P.C. Posted on Friday, February 17, 2023

We are pleased to announce that Steven Toscher and Michel Stein will be speaking at the upcoming CSTC webinar “Cryptocurrency Tax Compliance: Tax Filing Requirements, Managing IRS Examinations,” Wednesday, March 1, 2023, 6:00 p.m. – 8:00 p.m. (PST). The program will provide tax advisers and compliance professionals with a practical look at IRS guidance to calculating and reporting income […] Read More…

Posted by Hochman Salkin Toscher Perez P.C. Posted on Monday, February 06, 2023

We are pleased to announce that 10 of our principals have been selected to the 2023 Southern California Super Lawyers. Attorneys selected as Super Lawyers are among the top five percent of Southern California’s licensed attorneys. Southern California Super Lawyers Magazine recognizes outstanding attorneys in more than 70 areas of practice using a rigorous, multiphase selection process that […] Read More…