Bill would provide new tax incentives for affordable housing preservation
In the wake of a bipartisan housing package passing, Representative Mike Carey (R-OH) has introduced legislation to create new tax …
Thomson Reuters Tax & Accounting News
Banks are using AI to review loans, but humans still make the final loss call
Banks are beginning to use artificial intelligence to handle time-consuming parts of the loan-loss process, but they are not letting …
Hawaii amends eligible business activities for Enterprise Zone Program
By Krista A. Cohane, Esq., Checkpoint News Hawaii has amended its Enterprise Zone Program by redefining “eligible business activity,” amending …
5th Circuit upholds tax preparer’s 188-month sentence for fraud scheme
A federal appeals court upheld the conviction and 188-month prison sentence of a tax preparer convicted on 33 counts of …
Expert warns of gift tax ‘cliff’ for Trump account donors
An expert welcomed the IRS’ recently announced gift tax reporting safe harbor for Trump account contributions — but he cautioned …
IRS unveils new automatic penalty relief process
The IRS announced that this summer, it will transition to a new “systemic relief program” dubbed Automatic Exemption from Penalty (AEP). The …
SEC’s Atkins says no-action policy shift yields few proxy season disruptions; backs ‘materiality overlay’ in disclosure reform
Securities and Exchange Commission (SEC) Chairman Paul Atkins said that a major policy shift implemented last year — in which …
How Long Must an Applicable Large Employer Offer Coverage to a Dependent Child Approaching Age 26 to Avoid Employer Shared Responsibility Penalties?
QUESTION: Our company is an applicable large employer (ALE) that sponsors a group health plan covering eligible employees and their …
Lawmakers caution Trump-IRS settlement could provide multiple companies with ‘get-out-of-jail-free cards’
A trio of Democrats has asked 11 company and organization leaders whether they believe that, due to ties to President …
11th Circuit weighs Coca-Cola, IRS clash over transfer pricing methodology change-up
On June 25, the 11th U.S. Circuit Court of Appeals considered Coca-Cola Company’s challenge to the IRS’ change to a …
Connecticut discusses conformity to federal research, experimental expenditures
By Jennifer J. Troyer, JD, Checkpoint News The Connecticut Department of Revenue Services has issued guidance discussing the state’s conformity …
Corporate Transparency Act challenges still pending as SCOTUS term wraps up
The U.S. Supreme Court wrapped up its October 2025 term last week but has yet to reveal whether it will …
House taxwriters approve taxpayer rights, administrative bill package
The House Ways and Means Committee has approved a package of seven bills aimed at protecting taxpayer rights, improving IRS …