Eric is a managing partner in Green & Sklarz LLC, a boutique tax firm with offices in Connecticut and New York. The focus of Attorney Eric L. Green’s practice is civil and criminal taxpayer representation before the Department of Justice Tax Division, Internal Revenue Service and state Departments of Revenue Services.
Andreas N. Andrews focuses his practice on federal and international income tax planning and implementation matters, with an emphasis on mergers and acquisitions, reorganizations, fund formation and structuring, and partnership agreements.
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Session I – The Inflation Reduction Act & IRS Enforcement: Truth vs fiction – Eric L. Green
You have heard the hype - $80 billion in new funding for 87,000 new IRS employees, all of which will parachute into your homes and seize stuff.
During this special one-hour program we will cut through the hype and cover what we know will almost certainly happen and what part of the above is hysterical nonsense. During the program we cover the current enforcement trends and what the new funding will certainly build on.
Key topics to be discussed:
Session II – Inflation Reduction Act Would Significantly Expand Federal Income Tax Benefits for Green Technology Industry – Andreas N. Andrews
President Biden signed into law on August 16, 2022, the Inflation Reduction Act of 2022, H.R. 5376, 117th Congress (the “Act”). Approximately $370 billion of the Act’s expenditures are devoted to energy and climate spending, including significant extensions, expansions and modifications to the existing federal income tax benefits for renewable energy and other green technologies. Although such changes are welcome by the green technology industry, the Act’s green technology tax benefit provisions are complicated, entangling the current tax credit framework with newer provisions that will require development of necessary compliance protocols and implementation guidelines.
Key topics to be discussed:
Date: September 8, 2022
Eric L. Green | Green & Sklarz, LLC
Eric is a managing partner in Green & Sklarz LLC, a boutique tax firm with offices in Connecticut and New York. The focus of Attorney Eric L. Green’s practice is civil and criminal taxpayer representation before the Department of Justice Tax Division, Internal Revenue Service and state Departments of Revenue Services. He is a frequent lecturer on tax topics for many national organizations, including Insightful Accountant, CCH, the NAEA, the NATP, the ABA Tax Section and the Connecticut Society of CPAs.
Attorney Green has served as adjunct faculty at the University of Connecticut School of Law. He was the author and lecturer of the University of Connecticut School of Business IRS Representation Certificate Program, and has served as a columnist for CCH’s Journal of Practice & Procedure. He is the founder of Tax Rep LLC which coaches accountants and attorneys on building their own IRS Representation practices, and is the host of the weekly Tax Rep Network Podcast.
Mr. Green is the author of The Accountant’s Guide to IRS Collection, The Accountant’s Guide to Resolving Tax Debts, The Accountant’s Guide to Resolving Payroll Tax Debts and The Insider’s Guide to Offers-in-Compromise.
Andreas N. Andrews | Morgan Lewis
Andreas N. Andrews focuses his practice on federal and international income tax planning and implementation matters, with an emphasis on mergers and acquisitions, reorganizations, fund formation and structuring, and partnership agreements. Andreas also advises clients with respect to environmental, social and governance (ESG) & sustainability transactions, including renewable energy projects. Andreas’ preferred pronouns are he/him/his.
Prior to joining Morgan Lewis, Andreas was a tax associate for a national law firm, where he practiced federal income and state tax law. Before joining the firm, Andreas was a senior associate in the Mergers & Acquisitions group of the Washington National Tax Services office of PricewaterhouseCoopers, LLP in Washington, D.C. Andreas clerked for The Hon. Kathleen Kerrigan of United States Tax Court. He has an LL.M. in taxation.
I. The IRS’s increased use of Data and Artificial Intelligence to better select audit targets | 2:00pm – 2:08pm
II. The IRS’s use of data for IRS Collection review and the increased referrals to the Fraud Enforcement Office for failing to disclose assets abroad and crypto-currency | 2:08pm – 2:16pm
III. The IRS’s two new collection campuses in Puerto Rico and Mississippi | 2:16pm – 2:24pm
IV. The renewed focus on FTD alerts for employers who fail to deposit payroll taxes | 2:24pm – 2:30pm
V. The tracing of funds not paid over for payroll to create income tax assessments and criminal referrals of employers | 2:30pm – 2:38pm
VI. The IRS’s extension of the easement of the payment terms to assist struggling taxpayers | 2:38pm – 2:46pm
VII. The hiring of new auditors and collection personal | 2:46pm – 2:54pm
VIII. The IRS’s use of bots to answer routine questions and set up installment agreements, and the phenomenal success already seen in 2022 | 2:54pm – 3:00pm
Break | 3:00pm – 3:10pm
IX. Expansion of existing tax benefits for the green technology industry | 3:10pm – 3:25pm
X. Inclusion of certain new tax benefits for the green technology industry | 3:25pm – 3:40pm
XI. Incentives and disincentives with respect to the green technology industry tax credits | 3:40pm – 3:55pm
XII. Monetization of tax credits | 3:55pm – 4:10pm