Treasury Secretary Yellen: 130 Nations Have Agreed to Global Corporate Minimum Tax
Treasury Secretary Janet Yellen has announced that 130 nations have agreed to proposals by the Organization for Economic Cooperation and …
IRS Issues Rehabilitation Credit FAQs
The IRS has issued a series of FAQs regarding the rehabilitation credit, i.e., the credit available for rehabilitating historic structures. …
Reminder: Retirement Plan Participant Election Physical Presence Relief Ends June 30
Reminder: the temporary relief from the requirement that participant elections, including spousal consents, be made in the physical presence of …
IRS FACTA System Will be Unavailable June 18-20
IRS has announced that its FATCA systems will be unavailable from approximately 3 p.m. Eastern time on Friday, June 18, …
Commissioner Rettig Asks Congress for More Tools to Regulate Cryptocurrency
In June 8 testimony before the Senate Finance Committee, IRS Commissioner Charles Rettig covered a number of subjects including his …
Details of President Biden’s Proposed Reformation of Capital Gains and Transfer at Death Rules
President Biden, in the recently-released Green Book, has proposed far-reaching changes to the taxation of capital gains and the treatment …
Biden Administration Issues its FY 2022 Tax Proposals in “Green Book”
The Department of the Treasury has issued detailed information about the Biden Administration’s tax proposals for fiscal year 2022 for …
FAQS: Taxability of Emergency Rental Assistance Payments
On its website, the IRS has posted answers to frequently asked questions (FAQs) about the taxability of Emergency Rental Assistance …
IRS Provides Update on Status of Processing Quarterly Returns and Tentative Refund Forms
On a webpage, the IRS has updated the status of processing Forms 941, Employer’s Quarterly Federal Tax Return, 941-X, Adjusted …
IRS Releases 2021 Inflation Adjustments for Energy Production Credit
The IRS has published, in the Federal Register, the inflation adjustment factors and reference prices for calendar year 2021 that …