Bloomberg Law
Dec. 1, 2020, 6:33 PMUpdated: Dec. 1, 2020, 8:30 PM

SCOTUS Justices Grill IRS in Fight Over Tax Reporting Rule (1)

Jeffery Leon
Jeffery Leon
Reporter
Aysha Bagchi
Aysha Bagchi
Reporter

Several Supreme Court justices scrutinized the IRS’s position on when a reporting requirement can be challenged, signaling the high court may allow the lawsuit to go forward.

Tennessee firm CIC Services LLC has argued that an IRS reporting requirement wasn’t issued properly in a lawsuit that has twice been stopped in lower courts. The firm is challenging Notice 2016-66, which requires parties advising on certain micro-captive transactions to report them to the government or face penalties.

Lower courts agreed with the IRS that a law known as the Anti-Injunction Act is standing in the firm’s way. ...

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