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Joint Committee on Taxation (JCT)

Chief Counsel clarifies FOIA treatment of IRS-Joint Committee on Taxation records

Chief Counsel clarifies FOIA treatment of IRS-Joint Committee on Taxation records

Chief Counsel Notice 2016-003 In a recently issued Chief Counsel Notice, IRS has announced a new provision in the Chief Counsel’s Directive Manual (CCDM) on the treatment of Joint Committee on Taxation (JCT) documents as congressional records. Background—JCT. The JCT is a nonpartisan, 10-member Congressional committee that is closely involved with all aspects of the tax […]

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Washington Alert – TIGTA Semi-Annual Report to Congress; JCT on Technical Explanation of the Revenue Provisions of the Protecting Americans from Tax Hikes Act of 2015; IRS announces updates to Forms 1023 and 1024

Washington Alert – TIGTA Semi-Annual Report to Congress; JCT on Technical Explanation of the Revenue Provisions of the Protecting Americans from Tax Hikes Act of 2015; IRS announces updates to Forms 1023 and 1024

During the second half of fiscal year 2015, the audit and investigative activities of the Treasury Inspector General for Tax Administration (TIGTA) “resulted in the recovery, protection and identification of monetary benefits” of approximately $4.9 billion, according to a report released on Dec. 17. (TIGTA Semi-Annual Report to Congress – April 1, 2015-Sept. 30, 2015) […]

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Washington Alert – EITC due diligence letters; IMSI Catchers & Stingrays; JCT on proposed tax treaty between US & Japan

Washington Alert – EITC due diligence letters; IMSI Catchers & Stingrays; JCT on proposed tax treaty between US & Japan

IRS announced on Oct. 30 that it had recently sent Earned Income Tax Credit (EITC) Due Diligence letters to tax preparers “who submitted incorrect or highly questionable” EITC tax returns over the past year. (QuickAlerts for Tax Professionals) According to the agency, recipients of the letters should understand that the letters are solely informational in […]

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Washington Alert – CMS concerned of loss of ACA’s premium tax credit; IRS Collection being proactive on payroll taxes; JCT Report onMacroeconomic Effects of the ‘Tax Relief Extension Act of 2015

Washington Alert – CMS concerned of loss of ACA’s premium tax credit; IRS Collection being proactive on payroll taxes; JCT Report onMacroeconomic Effects of the ‘Tax Relief Extension Act of 2015

Federal officials, including those at the Centers for Medicare and Medicaid Services (CMS), are continuing to voice concerns regarding the possibility that up to an estimated 1.8 million households could lose their eligibility to receive the Affordable Care Act’s premium tax credit in 2016. Based on Treasury Department data, these households have been receiving the […]

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Washington Alert – DHS investigates inverted corporations; IRS Whistleblower Office receives lots of attention; U.S. & Vietnam sign accord; U.S. & India sign IGA; JCT Report on Excise Taxes

Washington Alert – DHS investigates inverted corporations; IRS Whistleblower Office receives lots of attention; U.S. & Vietnam sign accord; U.S. & India sign IGA; JCT Report on Excise Taxes

A bicameral group of seven Democrats on July 9 called on the chief watchdog of the Department of Homeland Security (DHS) to investigate the possible violation of “multiple federal prohibitions on contracting with inverted corporations.” (Letter to John Roth, Office of Inspector General, Department of Homeland Security) The letter referred to a recent article which […]

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Washington Alert – IRS loses Collection staff per TIGTA; JCT Report onthe Financing of Surface Transportation Infrastructure; District Court status on FOIA case and Lois Lerner

Washington Alert – IRS loses Collection staff per TIGTA; JCT Report onthe Financing of Surface Transportation Infrastructure; District Court status on FOIA case and Lois Lerner

Due to ongoing budget cuts, since fiscal year 2010, IRS has lost 21% of its Automated Collection Service (ACS) contact representatives and 28% of its Field Collection revenue officers, according to a recent Treasury Inspector General for Tax Administration (TIGTA) audit. (Audit Report No. 2015-30-035) The audit stressed the importance of collection employees since their […]

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Washington Alert – IRS warns of bogus e-mail scams; IRS Retirement Plans; JCT on Tax Reform, Growth and Efficiency

Washington Alert – IRS warns of bogus e-mail scams; IRS Retirement Plans; JCT on Tax Reform, Growth and Efficiency

IRS on Feb. 18 warned tax return preparers and other tax professionals that they are being targeting by scam artists who use bogus emails “seeking updated personal or professional information that in reality are phishing schemes.” (IR 2015-31) As described by the agency, the bogus emails ask tax professionals to update their IRS e-services portal […]

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Washington Alert – Tax Season; US and Qatar sign IGA; JCT on expiring provisions

Washington Alert – Tax Season; US and Qatar sign IGA; JCT on expiring provisions

With an eye on the upcoming tax filing season, the Treasury Department and the Department of Health and Human Services are revving up to provide tax filers with information and resources they may need as a result of the Affordable Care Act (ACA), the two departments said in a Jan. 8 joint statement. Consumers can […]

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Washington Alert – TIGTA gives favorable report; Webinar on Circular 230; JCT published its estimates of federal tax expenditures for fiscal years 2014-2018

Washington Alert – TIGTA gives favorable report; Webinar on Circular 230; JCT published its estimates of federal tax expenditures for fiscal years 2014-2018

IRS has demonstrated outstanding performance in providing accurate responses to Health Insurance Exchanges, also known as Marketplaces, when they request Income and Family Size Verification (IFSV) and the maximum amount of the Advance Premium Tax Credit (APTC) an individual could receive monthly, the Treasury Inspector General for Tax Administration (TIGTA) said in an audit released […]

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Washington Alert – Bits ‘n Pieces – JCT, Tax Policy Center, Swiss Federal Tax Administration, IRS Funding

Washington Alert – Bits ‘n Pieces – JCT, Tax Policy Center, Swiss Federal Tax Administration, IRS Funding

The Joint Committee on Taxation (JCT) has published a document entitled “List of Expiring Federal Tax Provisions 2013-2024. (JCX-1-14) The document lists federal tax provisions, other than those providing time-limited transition relief after the repeal of an underlying rule, that expired or are currently scheduled to expire in 2013-2024. It includes references to the applicable […]

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Washington Alert – Bits n’ Pieces

Washington Alert – Bits n’ Pieces

A report released by the Treasury Inspector General for Tax Administration (TIGTA) on Dec. 3, that addressed IRS’s role in processing tax credits and other information related to the Affordable Care Act (ACA), has become the center of controversy. (Audit Report No. 2013-23-119) IRS has taken appropriate steps, in the short term, to fulfill responsibilities […]

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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