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 …
Thomson Reuters Tax & Accounting
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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 …
Proposed Reliance Clean Vehicle Credit Regs Discuss Foreign Entity of Concern Rules
The IRS has issued proposed reliance regs that would provide guidance regarding the excluded entity provisions with respect to the Code …
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Ways and Means Passes Joint Resolution Blocking EV Final Regs
A joint resolution under the Congressional Review Act formally disapproving of final IRS regs implementing Inflation Reduction Act (PL 117-169) tax credit …
Corporate Transparency Act Reaches the 11th Circuit
Last week, challengers of the Corporate Transparency Act’s beneficial ownership information reporting requirements argued their position in the first case …
Bill Would Up Employer Child Care Assistance Credit
Bipartisan legislation introduced in the House last week would increase the amount of the tax credit that businesses can claim …