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 …
2023 NTA Annual Report: Big Strides Taken by IRS but Delays Linger In her latest annual assessment of the IRS’ efforts to improve taxpayer services and overall administration, National Taxpayer Advocate Erin …
Gensler Defends SEC Staff Accounting Bulletin on Crypto After GAO Report Deems it a Rule Securities and Exchange Commission (SEC) Chair Gary Gensler once again defended the controversial Staff Accounting Bulletin (SAB) No. 121 on …
New FASB Accounting Rules on Segment Reporting, Income Taxes, Crypto—Coming by Mid-December The FASB will publish new accounting standards on income taxes and crypto assets in the middle of December, the Board’s …