7 Takeaways from IRS Commissioner Rettig's Keynote Speech to MSBA

Frost & Associates, LLC was pleased to be among the sponsors for this year's Annual Irving Shulbank Memorial Dinner and Program. Highlights of the program included announcing the recipients of the 2019 Tax Excellence Award and The J. Ronald Shiff Memorial Pro Bono Award, as well as a presentation by keynote speaker, IRS Commissioner Charles Rettig.

Significantly, Commissioner Rettig's coverage of a number of hot topics, left attendees with the following takeaways:

  • The highly anticipated publication of a Revenue Ruling regarding cryptocurrency is just weeks away.
  • The IRS continues to pursue and enforce offshore matters.
  • The Whistleblower program is more robust than ever.
  • The IRS is increasing its efforts in civil and criminal employment tax enforcement-particularly targeting wealthy taxpayers with significant balances.
  • Fraud referrals from the civil IRS division are dismally low at 7%. The IRS is committed to shifting resources in order to raise this percentage-even at the expense of IRS customer service.
  • The IRS will increasingly scrutinize and pursue enforcement actions related to tax shelters, such as captive insurance and syndicated conservation easements.
  • The IRS fully intends to increase the number of suits it files to reduce assessments to judgment in order to prevent the expiration of collection statue expiration dates.

In summary, the IRS is consolidating its efforts to increase enforcement and close the tax gap. Taxpayers will notice a significant increase in IRS criminal prosecutions and fraud referrals, with the goal being to motivate taxpayers to come into compliance and refrain from engaging in abusive practices. If you have concerns regarding your tax issues, contact Frost & Associates, LLC today at 410-497-5947.

No Comments

Leave a comment
Comment Information
Email Our Team

Contact Us to Get Started Today

Located in the Washington, D.C area, we serve clients in the District of Columbia, Maryland and Northern Virginia, as well as across the country and overseas. For a free initial consultation, call 202-381-1261 or complete our brief online form.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Six Convenient Office Locations in and around the DC Metropolitan Area

Washington, D.C.
1050 Connecticut Ave NW #500
Washington, D.C. 20036

Phone: 202-618-1873
Fax: 888-235-8405
Washington Law Office Map

Columbia Office
10440 Little Patuxent Parkway, Suite 300
Columbia, MD 21044

Phone: 410-497-5947
Fax: 888-235-8405
Columbia Law Office Map

Annapolis Office
839 Bestgate Road
Suite 400
Annapolis, MD 21401

Phone: 410-497-5947
Fax: 888-235-8405
Annapolis Law Office Map

Fairfax Office
8280 Willow Oaks Corporate Drive
Suite 600
Fairfax, VA 22031

Phone: 703-621-7169
Fax: 888-235-8405
Fairfax Law Office Map

Rockville Office
199 E. Montgomery Avenue
Suite 100
Rockville, MD 20850

Phone: 240-599-5009
Fax: 888-235-8405
Rockville Law Office Map

Baltimore Office
400 East Pratt Street
8th Floor
Baltimore, MD 21202

Phone: 443-743-3381
Fax: 888-235-8405
Baltimore Law Office Map