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 …
Tax Court Revisits Test for Timely Supervisory Penalty Approval The Tax Court has determined that written supervisory approval for the accuracy-related penalties at issue was timely. The tax compliance …
IRS Issues Modernized E-File Testing Guidelines for 2024 The IRS issued an October 2023 version of Publication 5078, Assurance Testing System (ATS) Guidelines for Modernized e-File (MeF) Business Submissions, …
Tax Court: No Interest Is Paid on Whistleblower Awards The Tax Court has held that Code Sec. 7623(b) does not provide for the payment of interest on a mandatory award to …
IRS: Nonfilers Must Claim 2020 Recovery Rebate Credit by May 17 Individuals who are eligible to claim the 2020 Recovery Rebate Credit (RRC) because they didn’t get an Economic Impact Payment …
IRS Spending Plan Elicits Mixed Reactions From Congress, Policy Groups Following the release of the much-anticipated spending plan for how the IRS intends to deploy the $80 billion appropriation granted by the …
City of Portland, Oregon Enacts Downtown Business Incentive Credit by Margaret Eisler The City of Portland, Oregon has adopted a downtown business incentive credit, to be taken against the …