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IRS seeking comments on allocation of frequent flyer miles redeemed for other than air travel

IRS seeking comments on allocation of frequent flyer miles redeemed for other than air travel

Notice 2015-76, 2015-46 IRB In a Notice, IRS stated that it is considering issuing rules that would exclude, from the Code Sec. 4261(a) excise tax on taxable transportation, amounts attributable to mileage awards (i.e., frequent flyer miles) that are redeemed for purposes other than taxable air transportation, such as restaurant gift cards or magazine subscriptions. […]

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IRS request comments on property qualifying for the Sec. 48 energy credit

IRS request comments on property qualifying for the Sec. 48 energy credit

Notice 2015-70, 2015-42 IRB In a Notice, IRS has requested comments on issues that should be addressed in proposed regs on the definition of certain types of property under Code Sec. 48.Comments must be received by Feb. 16, 2016. Background.For purposes of computing the investment credit under Code Sec. 46, Code Sec. 48(a)(1) provides, in part, […]

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IRS seeks comments on COBRA and split-dollar arrangement notice requirements

IRS seeks comments on COBRA and split-dollar arrangement notice requirements

IRS Notices, FR Doc. 2014-24071, FR Doc. 2014-24075 IRS has announced that it would like the public’s comments concerning the extension of notice requirements that are contained in: (1) regs related to the application of COBRA continuation coverage requirements to group health plans; and (2) regs concerning split-dollar life insurance arrangements. COBRA. ’99 regs (T.D. […]

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IRS provides temporary discrimination relief to closed defined benefit plans

IRS provides temporary discrimination relief to closed defined benefit plans

In Notice 2014-5, 2014-2 IRB, IRS has granted temporary relief to certain “closed” defined benefit pension plans with respect to the rules that require that qualified plans not discriminate in favor of highly compensated employees (HCEs). The Notice also requests comments on a number of permanent discrimination rule changes that IRS is considering. Closed defined […]

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Changes proposed in seeking assistance from the U.S. competent authority

Changes proposed in seeking assistance from the U.S. competent authority

In Notice 2013-78, 2013-50 IRB, IRS has requested public comment on a proposed revision to the procedures for requesting assistance from the U.S. competent authority under the provisions of an income, estate, or gift tax treaty to which the U.S. is a party. Competent authority requests. The U.S. competent authority assists taxpayers on matters covered […]

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IRS to issue proposed guidance on qualifying as a 501(c)(4) organization

IRS to issue proposed guidance on qualifying as a 501(c)(4) organization

In IR 2013-92, IRS has announced that it will be issuing proposed guidance regarding qualification requirements for tax exemption as a social welfare organization under Code Sec. 501(c)(4). Among other things, the guidance will create a new term, “candidate-related political activity,” and provide that promotion of social welfare does not include that activity. The proposed […]

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U.S. tax agency proposes new rules for tax-exempt political groups

U.S. tax agency proposes new rules for tax-exempt political groups

WASHINGTON (Reuters) – The Obama administration proposed new rules  to rein in tax-exempt groups that have transformed the U.S. political landscape in recent years by harnessing hundreds of millions of dollars in anonymous donations to influence U.S. elections. The proposal would alter definitions in the tax code that allow limited campaign and fundraising activities by […]

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National Taxpayer Advocate Identifies Priority Issues for Upcoming Year; Reports on Exempt Organization Review Concerns

National Taxpayer Advocate Identifies Priority Issues for Upcoming Year; Reports on Exempt Organization Review Concerns

IR-2013-63, National Taxpayer Advocate Nina E. Olson today (June 26) released her statutorily mandated mid-year report to Congress that identifies the priority issues the Taxpayer Advocate Service (TAS) will address during the upcoming fiscal year. The report expresses particular concern about the impact of budget cuts on the IRS’s ability to meet taxpayer needs, the […]

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IRS issues proposed regulations on Community Health Needs Assessments, requests comments

IRS issues proposed regulations on Community Health Needs Assessments, requests comments

On April 3, 2013, the IRS issued proposed regulations on the requirement that charitable hospitals conduct community health needs assessments (CHNAs) and adopt implementation strategies at least once every three years (formal publication on April 5, 2013). The proposed regulations also discuss the related excise tax and reporting requirements for charitable hospitals and the consequences […]

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IRS Announces Simplified Option for Claiming Home Office Deduction

IRS Announces Simplified Option for Claiming Home Office Deduction

The IRS recently announced a Simplified Option for Claiming Home Office Deduction Starting This Year; Eligible Home-Based Businesses May Deduct up to $1,500; Saves Taxpayers 1.6 Million Hours a Year.  In tax year 2010, the most recent year for which figures are available, nearly 3.4 million taxpayers claimed deductions for business use of a home […]

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Meet Paul Raymond

Meet Paul Raymond

Mr. Raymond is a sought after speaker in tax controversy law by many attorney, accountant, and business groups and at the request of the Internal Revenue Service, has presented programs at the IRS Nationwide Tax Forum, attended by tax professionals throughout the United States.

Additionally, he continues to be an active member in the Section of Taxation, American Bar Association, where he was the Past Chair of the Employment Taxes Committee.

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Member CA Bar Member Orange County Bar US Tax Court Attorney