Senate Committee Approves Budget Increase for IRS

The Senate Appropriations Committee on Sept. 19 voted to advance the FY2020 Financial Services and General Government Appropriations Act, which …

IRS Discontinues Schedule C-EZ and Other Forms for 2019

IRS has announced that, for 2019, it will not be issuing certain forms that it issued in 2018. The obsolete …

IRS Expands Disaster Relief for California Counties Affected by 2018 Wildfires

In response to the devastation caused by wildfires to Butte, Los Angeles, and Ventura Counties in California, IRS has issued …

Thomson Reuters And Inflo Launch New Free Data Analytics Solution

Thomson Reuters and Inflo formed a strategic partnership in November 2018 to accelerate Inflo’s ground-breaking workflow, data ingestion and analytics …

IRS Offers Limited Micro-Captive Insurance Transaction Settlement

The IRS has announced in IR 2019-157 (9/16/2019) that it is mailing a time-limited settlement offer to certain taxpayers under …

IRS Finalizes Bonus Depreciation Regs

IRC §168(k) allows an additional first-year (“bonus”) depreciation deduction in the placed-in-service year of qualified property. In August 2019, IRS …