tax break

On this episode of tax break, host Rob Kovacev conducts an in-depth interview with Miller & Chevalier Counsel Katherine Jordan, including her background in controversy, her experiences both in private practice and in house, and her thoughts on the future of controversy given recent changes at the IRS. Katherine also gives advice to tax lawyers as they proceed in their careers and tips on what...

On this episode of tax break, host Rob Kovacev interviews former IRS Chief Counsel and newest addition to the Miller & Chevalier tax practice, Mike Desmond. They discuss Mike's tenure as Chief Counsel, the challenges facing the IRS under the new administration, and the changing legal landscape for Treasury regulations. ********* Thank you to Mike Desmond for joining us: https://www.millercheva...

We all knew that 2025 would be a watershed year for tax policy, with the expiration of several key provisions of the Tax Cuts and Jobs Act (TCJA) alone guaranteed a busy tax policy year. Now the 2024 elections are over, resulting in the election of President-elect Trump and a Republican Congress. On this episode of tax break, host Rob Kovacev is joined by Miller & Chevalier Tax Policy Co-Lead...

In this episode tax break, Miller & Chevalier Counsel Jaclyn Roeing interviews Rob Kovacev on the Supreme Court’s decision in Loper Bright Enterprises v. Raimondo, Case No. 22-451 (June 28, 2024). The opinion provided a resounding rejection of the Chevron doctrine and the deference previously afforded to agency regulations, and is expected to have wide-ranging effects. Rob provides insights on...

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 a...

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 taxpayer...

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 o...

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 procu...

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 c...

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 compl...

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’ onsh...

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 t...

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...

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 Tha...

Facebook is embroiled in a transfer pricing dispute with the IRS in Tax Court. This week on tax break, Steve and Loren discuss what's at issue in the case. 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 associat...

The January special election in Georgia shifted control of the Senate to the Democrats. What does this mean for the prospects and content of future tax legislation? Hosts Steve Dixon and Loren Ponds are joined by their colleagues Jorge Castro and Marc Gerson to discuss: Contents of the Consolidated Appropriations Act, 2021 New Composition of Finance and Ways & Means What Can Be Accomplished with R...

This week on tax break, Steve and Loren are joined by Miller & Chevalier Tax Member Rocco Femia to discuss the recently proposed section 901 regulations’ net gain requirement and new jurisdictional nexus standard, as well as the implications of these modifications. Thanks to our guest, Rocco Femia: https://www.millerchevalier.com/professional/rocco-v-femia ********* Questions? Contact us at podcas...

In a crossover with the Tax Notes Talk podcast, tax break host and Miller & Chevalier Member Loren Ponds shares her journey from Georgetown University Law Center to the OECD to Capitol Hill, where she worked on the 2017 tax law, and what she learned along the way. Loren is interviewed by Nana Ama Sarfo, who recently profiled her in Tax Notes' For the Love of Tax series.  You can check out that pro...

On this episode of tax break, Loren and Steve are joined by Simon Webber, a managing director in the transfer pricing practice at Duff & Phelps, about the latest OECD initiatives and what they might mean for transfer-pricing valuation. We'll speak about the endeavor of transfer pricing valuation as it relates to worldwide effective-tax-rate management, how the last round of OECD initiatives (under...

In this episode of tax break, Steve and Loren are joined again by Miller & Chevalier tax Member Jorge Castro to discuss some of the business-specific tax proposals that have come from President-Elect Joe Biden. Jorge served on the Obama-Biden Transition Team in 2008 and provides perspective about how the incoming Biden administration is currently assessing these issues. We discuss significant gene...

In this episode of tax break, Steve and Loren discuss the final FDII regulations from July 2020 with Sharon Heck, Treasurer and Chief Tax Officer at Intel. They discuss several aspects of the business that have been affected by FDII, and policy discussion underscoring the importance of the provision now and going forward: Practical considerations (supply chain considerations, corollary to GILTI, i...

This week, Steve and Loren discuss the final FDII regulations from July with Jeff Tebbs, International Tax Counsel at Lockheed Martin. They cover: Allocation of R&E expenses, which Treasury did not address Finalized regulations treating 250(b) as operative under 861 allocation and apportionment rules Sales of general property that primarily contain digital content How final regulations relax docum...

On this episode, hosts Loren Ponds and Steve Dixon discuss with our esteemed guest, Andy Howlett (Tax Member at Miller & Chevalier), some of the finer points of Section 199A.  Section 199A is a newly enacted provision of the Tax Cuts and Jobs Act and represents Congress's attempt to harmonize the tax treatment of corporate and pass-through entities. We will explore the policy behind its enactment,...

In this episode, Loren and Steve discuss the APA, what it means for Treasury Regulations, and the APA issues presented in the Altera case. The Supreme Court just denied Altera's petition for certiorari, which was unfortunate because it presented some important questions about how the APA applies to Treasury Regulations. Moreover, the Supreme Court's landmark DACA decision clarified some APA princi...

In this episode of tax break, hosts Loren Ponds and Steve Dixon are joined by guest Kevin Kenworthy (Chair of Miller & Chevalier's Tax Department) to discuss the upshot of the district court's decision in Microsoft's transfer-pricing case as it pertains to claims of work-product protection and section 7525 in the context of transfer pricing and international tax planning. Microsoft lost its fight...