GOP Eyes Spending Bills as Vehicles for IRS Funding Clawbacks
Amid annual appropriation and Israel support negotiations now that the House speaker position has been filled, Republicans are seeking to …
Prop Regs Clarify No Surprises Act Dispute Resolution Process
The IRS, in conjunction with other government agencies, has issued proposed regs that clarify the federal independent dispute resolution (IDR) …
Illinois Issues Updated Guidance for Remote Retailers and Marketplace Facilitators
by Krista A. Cohane The Illinois Department of Revenue has issued an informational bulletin to remote retailers and marketplace facilitators …
Lawmakers Question Tax Prep Corps on FTC Privacy Violation Warnings
Following up on civil penalty warnings from the Federal Trade Commission (FTC), as well as their own independent investigation, a …
Gensler to U.S. Chamber on SEC Climate Disclosure Rulemaking: ‘Wait, are you already suing us?’
At an event hosted by the U.S. Chamber of Commerce, it was clear that a potential lawsuit by the business …
IRS Announces Annual PCOR Fee Adjustment
IRS Notice 2023-70 (Oct. 18, 2023) Available at https://www.irs.gov/pub/irs-drop/n-23-70.pdf The IRS has announced the annual increase in Patient-Centered Outcomes Research (PCOR) …
2024 PTIN Renewal Period Underway
The IRS has announced that the PTIN renewal period is now open. All active return preparers need to renew their …
Colorado Provides Guidance on CHIPS Refundable Tax Credit Program and CHIPS Zone Program
by Tyna Mikulec The Colorado Office of Economic Development & International Trade has released guidance on income tax incentives that …
IRS Investment Update: Business Account Launches, Noncompliant US Subsidiaries Targeted
In a quarterly update on how the IRS has been utilizing Inflation Reduction Act (PL 117-169) resources, the agency announced …
Ways and Means Looking to Curb Pandemic Related Fraud
Federal agencies did not strategically manage fraud risks and were not adequately prepared to prevent fraud tied to COVID-19 relief …