Chris Cioffi

Business groups and other stakeholders are at odds over how the IRS’s proposed rules on the GOP tax law’s new tax break for tips treats automatic gratuities.
news.bloomberglaw.com/product/tax/...

Treasury Urged to Finish Clean Fuel Credit Rules by Lawmakers The Treasury Department should take swift action to finalize clean fuel production rules to address unresolved pieces of July’s GOP tax law for the biofuels industry, a bipartisan group of House…

NEW: A bipartisan group of House lawmakers called on Treasury Secretary Scott Bessent to finalize implementation rules for the Section 45Z credit that prioritizes North American feedstocks.
news.bloombergtax.com/daily-tax-re...

Tax prep companies are close to a long-held goal of scrapping the IRS Direct File program, and spent millions this year to further that aim, among other policies, federal lobbying disclosures show. news.bloombergtax.com/daily-tax-re...

Treasury Is Working to Implement GOP Tax Law Amid Shutdown PwC’s Beth Bell talks with Bloomberg Tax about US efforts to secure agreements to allow the US tax system to coexist with the Pillar Two project, and other topics in this week’s Talking Tax podcast.

POD: What may get Republicans to reintroduce the "revenge tax" and what's happening in US talks to get agreement on the US tax system coexisting with Pillar 2?

Find out on this week's Talking Tax as I discuss this and more with PWC principal Beth Bell

buff.ly/uSdk7zO

IRS Files Tax Lien Against Sen. Jim Justice in West Virginia Sen. Jim Justice (R-W.Va.) and his wife Cathy owe outstanding payments of what the IRS describes as tax liabilities of more than $8 million, including interest and penalties, according to documents.

IRS Files Tax Lien Against Sen. Jim Justice in West Virginia news.bloombergtax.com/daily-tax-re...

New from me: The US Tax Court’s move to cancel two weeks of trials due to the government shutdown is threatening to jam up the busy system.

The canceled trial sessions will likely spur further delays in litigation as a skeleton crew of IRS attorneys triages cases.

buff.ly/YWV2ZxC

Hunter Biden’s Lawyer Wins Defamation Case Against IRS Agents A federal judge threw out a defamation lawsuit filed by two IRS agents against Hunter Biden’s attorney, finding that the lawyer’s statements were constitutionally protected opinions.

A federal judge threw out a defamation lawsuit filed by two IRS agents against Hunter Biden’s attorney, finding that the lawyer’s statements were constitutionally protected opinions.

news.bloombergtax.com/daily-tax-re...

The US Supreme Court’s conservatives suggested they will restrict the creation of majority-Black and majority-Hispanic voting districts in a case that could further undercut a landmark civil rights law and bolster Republican electoral prospects. news.bloomberglaw.com/product/blaw...

Employers, Workers Prep for Overtime Tax Break Without IRS Input President Donald Trump’s campaign promise of a tax break on overtime enjoys wide support, but implementation has been a slow roll and is spurring confusion for businesses and workers ahead of next…

NEW from me: President Donald Trump’s campaign promise of a tax break on overtime enjoys wide support, but implementation has been a slow roll and is spurring confusion for businesses and workers ahead of next year’s filing season. news.bloombergtax.com/daily-tax-re...

Trump Starts Mass Layoffs at IRS, Treasury Amid Shutdown (1) The Trump administration has begun firing workers at the IRS and the Treasury Department as it tries to leverage mass layoffs in the standoff over government funding in Congress.

NEW: The Trump administration has begun firing workers at the IRS and Treasury Department, as it tries to leverage mass layoffs in the standoff over government funding in Congress.

It’s unclear how many employees will be impacted.

news.bloombergtax.com/daily-tax-re...

What an IRS CEO Means for Tax Administration, Agency Functions National Taxpayers Union President Pete Sepp talks with Bloomberg Tax, saying Congress is right to seek answers about how the new IRS CEO job interacts with the existing commissioner position.

Podcast: On this week's Talking Tax, I sat down with Pete Sepp, president of the National Taxpayers Union.

He said Congress is right to seek answers on how the CEO may interact with a commissioner, and concerns that many top IRS positions remain open.

buff.ly/gsbClaT

Treasury Pledges New IRS Chief to GOP Tax Writer After CEO Pick The Trump administration plans to name a new nominee to be IRS commissioner even as the Treasury Department Monday named a new CEO to lead the agency, according to the office of a key tax writer.

Scoop w/ @reportercioffi.bsky.social: The Trump administration assured Sen. Chuck Grassley that they plan to name a new nominee to lead the IRS, even as the Treasury Department names new de facto leadership, according to the tax writer's office. news.bloombergtax.com/daily-tax-re...

Manufacturers Seek Business-Friendly Guidance on GOP Tax Law America’s largest lobbyist for manufacturers is urging the Treasury Department to issue business-friendly guidance on key provisions from July’s tax law.

Scoop: America’s largest lobbyist for manufacturers is urging the Treasury Department to issue business-friendly guidance on key provisions from July’s tax law.
news.bloombergtax.com/daily-tax-re...

Crypto Allies Look to Build on Stablecoin Momentum for Tax Rules Tax writers and their industry allies are hoping to capitalize on recent moves toward regulating cryptocurrencies to draft a new taxation regime for digital assets.

New: Tax writers and their crypto allies hope to leverage a hearing in the Senate Finance Committee tomorrow to build on momentum for a new taxation regime for digital assets, including a suite of key asks from the industry. w/ @reportercioffi.bsky.social news.bloombergtax.com/daily-tax-re...

Thune and Schumer engaging in a live debate-

Thune holding CR says it funds government until Nov 21, argues Democrats will have the same leverage then that they have now.

Schumer accuses GOP of refusing to negotiate on Dems' demands, and calls for a return to the table

Floor Chart DUEL: Sen. Schumer takes Sen Thune's floor chart and has to wrangle the stand too, as he addresses Thune's criticism of Democrats' CR vote as the two parties stare down a shutdown.

Crapo Announces Hearing on Taxation of Digital Assets | The United States Senate Committee on Finance Crapo Announces Hearing on Taxation of Digital Assets

CRYPTO: The Senate Finance Committee scheduled a hearing looking at the taxation of digital assets on Wednesday, October 1. buff.ly/5jwWaqa

Lawmakers are turning their attention to challenges that are frustrating taxpayers and at the center of legal disputes, with input that backers say would streamline tax administration and the judicial process.

www.bgov.com/news/T334C0GPWCH5

List for no tax on tips is out:

Yes for taxi and delivery drivers, waitstaff, caddies and plumbers.

Hard no on exotic pet smugglers, counterfeiters or those engaging in pornographic activity.

buff.ly/oOqEe52

Baker McKenzie Pulled Into US Probe of Puerto Rico Tax Abuses The subpoenas signal a new phase in an ongoing investigation by the Justice Department and the Internal Revenue Service into Americans sheltering potentially billions of dollars from taxes under…

!!NEW: Federal investigators have been poring through client records of the global law firm Baker McKenzie LLP as they expand their probe of US taxpayers fraudulently sheltering income by claiming residency in Puerto Rico.

House Committee Advances Tax Court, Penalty Approval Bills House tax writers advanced two measures Wednesday aimed at improving US Tax Court operations and clarifying rules for supervisory approval of IRS penalty assessments.

New: House tax writers advanced two measures Wednesday aimed at improving US Tax Court operations and clarifying rules for supervisory approval of IRS penalty assessments.

Kash Patel Called Krispy Kreme Stock a Buy and Fueled Wild Rally Hours into his second day of contentious testimony in Congress, Kash Patel, the FBI director, sparked one of the more unusual stock rallies of the year.

Hours into his second day of contentious testimony in Congress, Kash Patel, the FBI director, sparked one of the more unusual stock rallies of the year.

IRS Posts Thousands of Customer Service Jobs After Downsizing The IRS has issued job postings for thousands of positions in the taxpayer services division after months of staffing cuts that shrunk the agency’s workforce by about one-quarter.

The IRS has issued job postings for thousands of positions in the taxpayer services division after months of staffing cuts that shrunk the agency’s workforce by about one-quarter.

buff.ly/kUDG2xp

IRS Chief Says Direct File Is ‘Gone,’ Other Audit Tech Is Coming The Biden-era IRS free filing tool, Direct File, is “gone,” IRS Commissioner Billy Long said.

“You’ve heard of Direct File,” new IRS Commissioner Billy Long said Monday in one of his first public appearances since taking the job. “That’s gone. Big beautiful Billy wiped that out. I don’t care about Direct File. I care about direct audit.”

news.bloombergtax.com/daily-tax-re...

Stolen Tax Refund Check Recovery Bill Gets Senate Momentum (1) Taxpayers who have paper IRS refund checks stolen or lost in the mail would be eligible for electronic payments under a House-passed measure that’s getting traction in the Senate.

Tax Admin News - Taxpayers with stolen or lost refund checks would be eligible for electronic payments under a bill from Marsha Blackburn Mark Warner.

A version of the blil has already passed the House.

buff.ly/8V9wCnf

Republicans are pushing for policy changes on traditionally bipartisan issues like cryptocurrency, but in the aftermath of the GOP’s $3.4 trillion tax-and-spending bill there may be little goodwill left.

buff.ly/Wa4KZkf

Andy Harris on outcome of HFC discussions over concerns with the bill:

“We came to significant agreements with the administration overnight on executive actions, both inside and outside of the bill that will make America great again”

When we may see them: “Ask the president”

!!! TRUMP TAX BILL PASSES 218-214.

!!! TAX BILL HAS THE VOTES TO PASS

The GOP’s $3.4 trillion tax bill seems headed toward passage, but backers of some policies that didn’t make it in—from normalization of tax relations with Taiwan to extending a bipartisan work credit—will ramp up lobbying before campaign season begins

news.bloomberglaw.com/product/tax/...