IRS Finalizes 2013 Proposed Regs on Partnership Recourse Liabilities, Related-Party Rules
The IRS has finalized proposed rules from 2013 that address the allocation of recourse liabilities among partners and the related-party …
Checkpoint Federal Tax Update Staff
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IRS Clarifies Tax Treatment of CHIPS Award Recipients
The IRS specified in a November 26 announcement that the amounts a CHIPS Incentives Program awardee pays or incurs for …
Resolve Improper Employee Retention Credit Claims Now, IRS Says
The IRS is urging businesses to resolve improper Employee Retention Credit (ERC) issues now. The employer deadline for the second …
Public Hearing Set on Proposed Dual Consolidated Loss Regulations
The IRS and the Department of the Treasury have scheduled a public hearing this November on the proposed regulations regarding …
Hurricane Victims Granted Extensions Under Certain Benefit Plans
Several federal agencies in a joint notice announced extensions to various time frames for participants, beneficiaries, and qualified beneficiaries of …
Final Regs Update Guidance on Sales of Seized Property
The IRS has issued final regs designed to modernize the rules governing sales of taxpayer property seized by the IRS …
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What Are Mandatory 401(k) Roth Contributions Under the SECURE 2.0 Act?
QUESTION: We have heard that the SECURE 2.0 Act will require us to treat certain catch-up contributions under our 401(k) …
Government Grants Accounting to Get New Rules, Establishing Reporting Guidelines for Businesses
he FASB voted on June 4, 2024, to issue a proposal that aims to standardize and clarify the accounting practices …
Right to Remove: SEC Administrative Enforcement Opt-out Gets Fresh Look as Supreme Court Ruling Looms
The Supreme Court’s looming decision in SEC v. Jarkesy has reignited discussion over “right to remove,” a decades-old concept in which the …