Trevor Sikes

Having fewer onsite workers because of governmental orders isn’t enough to show that a business was partially suspended for purposes of claiming the employee retention credit, the federal claims court ruled. Read more from @taxtrevor: taxnotes.co/4c4WmQ9

FREE TO LISTEN: In this podcast episode, I investigate how the qualified tips deduction under the One Big Beautiful Bill Act has affected tipped workers in the year since the law's enactment. Big shout out to A.J. Collins and everyone at @TaxNotes. taxnotestalk.taxnotes.com/124942/episode… #Tax #TaxPolicy #TaxNotes #NoTaxOnTips #Podcast

The One Big Beautiful Bill Act’s 90 percent limitation on gambling loss deductions is grossly unfair to honest gamblers and should be repealed, according to stakeholders. From @taxtrevor: taxnotes.co/4wJG1Z2

Implementing automatic enrollment and streamlining election processes are necessary to ensure that eligible children don’t miss out on the benefits of #TrumpAccounts, stakeholders told the #IRS. Read more from @taxtrevor on the latest IRS hearing: taxnotes.co/4w7HqbX

Some contributions to tax-deferred Trump accounts for children won't be considered gifts of future interests subject to gift tax reporting requirements, according to guidance from Treasury and the IRS. Read more from @taxtrevor: taxnotes.co/3Qyv9hv

Trump officially nominates James Gadwood to serve as IRS chief counsel (subject to Senate confirmation), who is currently tax counsel with Miller & Chevalier. Comes after Trump withdrew his nom of Donald Korb in November. whitehouse.gov/presidential-a…

The Trump accounts program will now allow minors in foster care to participate in tax-deferred saving vehicles through a new initiative called “Fostering the Future” accounts. Read more from @taxtrevor: taxnotes.co/4gfabhQ

A taxpayer’s cryptocurrency staking rewards totaling over $33,000 were taxable and should have been reported as income because he had dominion and control over the assets, according to the Tax Court. Read more from @taxtrevor: taxnotes.co/4uTuFkY

AG Blanche says he won't put the end to the "Anti-Weaponization" fund in writing despite saying the Trump admin is not moving forward with it. “I’m not committed to putting anything in writing ... Why do I have to put something in writing if I'm telling you what we’re doing?”

The Justice Department said it would comply with a federal court order blocking the Trump administration’s “Anti-Weaponization” Fund while disputing the ruling and defending the legality of the $1.8 billion taxpayer-funded compensation fund. taxnotes.co/49wgnxZ

Read the story here: taxnotes.com/tax-notes-toda…

Democratic taxwriters in the Senate are pushing for details and multiple investigations into the nearly $1.8 billion fund and related audit prohibition that came out of the settlement from President Trump’s lawsuit against the IRS. @cady_stanton explains: taxnotes.co/3Q3dqhJ

The unprecedented order barring the pursuit of tax claims against President Trump and his affiliates undermines legal accountability and may violate the revenue code’s protections against political interference, according to observers. From @taxtrevor: taxnotes.co/4uJ77ik

The IRS has extended the deadline for retirement plans to offer qualified long-term care distributions and established reporting requirements for insurance providers. More from @taxtrevor: taxnotes.co/3PjBf4J

House Democratic taxwriters introduced legislation that would impose a 100 percent excise tax on the $1.8 billion “Anti-Weaponization Fund” settlement that was established after President Trump dropped his lawsuit against the IRS. More from @cady_stanton: taxnotes.co/3PATMtk

JUST IN: President Trump has dropped his $10 billion lawsuit against the IRS over the leak of his tax return information, for which a federal judge was set to hold a hearing on regarding whether a valid controversy existed. Read more: taxnotes.co/4dgXilF

The IRS will address more areas of tax controversy following the recent announcement of its settlement offer for historic and conservation easements, according to acting IRS Chief Counsel Kenneth Kies. taxnotes.co/4uI9ZMe

Can tax policy address the childcare crisis? This week on the podcast, Professor Lauren Shores Pelikan of @MizzouLaw discusses her proposal to create a tax benefit for individual childcare service providers to ease costs for working parents: taxnotes.co/3P2wRXo

Taxpayers with unresolved employee retention credit claims now have a more streamlined method for requesting time extensions on their deadlines to file suit. @taxtrevor explains: taxnotes.co/4cWH3cd