New York Authorizes NYC Multiple Dwelling Rehabilitation Tax Abatement
New York has enacted legislation authorizing New York City to adopt a local law providing a real property tax abatement …
Thomson Reuters Tax & Accounting News
IRS Proposes Increasing Estate Tax Closing Letter Fee
The IRS has issued proposed regulations that would increase the user fee for an estate tax closing letter from $56 …
Former Judges Want Trump-IRS Suit to Resume
A group of 35 former federal judges has filed a motion in federal court seeking to reopen President Donald Trump’s …
Trump Account App Released Ahead of Initial Contribution Date
The Treasury Department announced on Thursday that the app for managing Trump accounts, a new tax-favored account for children, is now available …
Bipartisan ‘PARITY’ Act Introduced to Modernize Digital Asset Tax Rules
A bipartisan group of lawmakers has introduced sweeping legislation to establish a new tax framework for digital assets, aiming to …
Bipartisan Bill Would Boost Rental Housing Supply With New Deduction
A bipartisan group of House Ways and Means Committee members is calling for a new immediate deduction for residential rental …
Do We Need to File Form 5500 for Our Company’s Cafeteria Plan?
QUESTION: Our company has a cafeteria plan that permits participants to pay for certain benefits using pre-tax dollars. Do we …
Watchdogs, Former Prosecutor Sue to Block Trump-DOJ Settlement Fund
Two federal lawsuits filed May 22 seek to dismantle the $1.776 billion Anti-Weaponization Fund created through a settlement between President Donald Trump and the …
Strong Recordkeeping Key Amid Form 990 Changes, Tax Pro Says
The IRS is expected to issue regulations revising Form 990, the annual information return required of tax-exempt organizations. Matthew Petroski, …
Top Democrats Demand Answers on Trump-DOJ Settlement
Ranking Democrats on two House committees are demanding documents and answers from the Treasury Department, Department of Justice (DOJ), and …
Experts Share Refund Opportunities After Kwong, Abdo Decisions
A panel of tax controversy experts at the 2026 ABA May Tax Meeting on May 8 discussed two court decisions …
On-Demand Pay, Off-Schedule Compliance: What Payroll Leaders Need to Know About Earned Wage Access
The numbers are hard to ignore. A record 55% of Americans say their financial situation is getting worse, up from 53% last …
DOJ Settlement ‘Forever’ Bars IRS Trump Audits, Sparks Backlash
The Department of Justice has issued an order that permanently bars the IRS from auditing past tax returns of President …