2025 Tax Filing Season Kicks Off
The 2025 tax filing season opened on January 27, with the IRS expecting over 140 million individual tax year 2024 …
Thomson Reuters Tax & Accounting
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Final Regs Allow Certain Co-Owned Elective Pay Entities to Opt Out of Partnership Treatment
The IRS finalized regs providing guidance on how clean energy projects with multiple owners can elect to not be treated …
Key 2025 Figures Calculated by Thomson Reuters Checkpoint Based on Inflation Data Now Available
Many tax, expensing, and penalty figures are adjusted annually for cost-of-living increases. These adjustments reflect the average chained Consumer Price …
IRS Withdraws, Reproposes Foreign Currency Gain, Loss Regs
The IRS has released new proposed regulations on making and revoking certain foreign currency gain or loss elections. These new …
Werfel Announces Leadership Restructuring Coming in Early 2024
IRS Commissioner Danny Werfel, in News Release 2023-237, announced his plans to restructure the leadership at the agency. The new …
IRS to Issue Proposed Regs Addressing the Pillar Two GloBE Model Rules
The IRS has announced that it will issue proposed regs addressing how certain Code provisions, including the foreign tax credit …
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Treasury: Expect More Clean Energy Tax Credit Guidance Before End of Biden’s Term
The Treasury Department and IRS are on track to finalize a suite of regs implementing various clean energy tax provisions …
AICPA, NASBA Now Accepting Comments on Proposed Optional Pathway for CPA Licensure, Individual Mobility
The AICPA on March 4, 2025, said that its proposal to offer an additional path to obtain a CPA license …
Ways and Means Advances Five Tax Measures
On Wednesday, House Ways and Means Committee members marked up five tax-related bills — while debating everything from gun control …