Conservation Easement Enforcement Must Continue, Lawmakers Say
Two Senate Finance Committee members applauded the IRS’ recent settlement offer to taxpayers involved in syndicated conservation easement cases but …
Thomson Reuters Tax & Accounting News
SEC Chief Accountant Hohl Dispels Rumors of Weakening Auditor Independence Rules
Securities and Exchange Commission (SEC) Chief Accountant Kurt Hohl, speaking at a conference, once again sought to set the record straight …
Crypto Tax Bill Can Move Without Market-Structure Law, EY Expert Says
As Congress weighs competing frameworks for digital assets, the tax consequences remain unsettled, and the tax bill is not waiting …
Workers Hit the Jackpot on Company Stock. Then the Company Went Bankrupt.
A private company’s stock price shot up. Employees who owned shares through the company retirement plan saw a chance to …
If Our Employees Complete a Tobacco-Cessation Program Midyear, Are They Entitled to a Retroactive Refund of Tobacco-Use Premium Surcharges Paid Earlier in the Year?
QUESTION: Our company is thinking about implementing a tobacco-use premium surcharge next year. If an employee were to complete a …
Dems Push for IRS Guidance on Cannabis Business Tax Treatment
A group of House Democrats has urged the IRS to issue prompt guidance for state-legal cannabis businesses following the recent …
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 …
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 …