Commissioner Peirce Criticizes SEC Adoption of Revised Beneficial Ownership Reporting Rule
Even though the Securities and Exchange Commission (SEC) on Oct. 10, 2023, finalized a modified version of a proposal that …
IRS Warns High-Income Taxpayers About Danger of Improper Art Donation Deduction Promotions
The IRS has cautioned taxpayers to be on the alert for promotions involving “exaggerated art donation deductions” that are aimed …
IRS Releases 2023 Affordable Care Act Forms
The IRS released the final versions of the following 2023 Affordable Care Act (ACA) forms: (1) Form 1094-B, Transmittal of Health Coverage …
CMS Finalizes Regulations Addressing Penalties for MSP Reporting Violations
HHS Final Rule: Medicare Program; Medicare Secondary Payer and Certain Civil Money Penalties, 42 CFR Part 402, 45 CFR Part …
FASB Publishes New Accounting Standard to Incorporate 14 SEC Disclosure Rules into GAAP
The FASB on Oct. 9, 2023, issued an accounting standard that pulls 14 SEC disclosure requirements into the U.S. GAAP …
TIGTA Assesses Development of IRS-Run E-Filing System
The Treasury Inspector General for Tax Administration (TIGTA) has released an audit initiated to assess the IRS’ compliance with a …
Louisiana Income Tax Return Filing Deadlines Extended Due to Seawater Intrusion
The Louisiana Department of Revenue is granting automatic filing extensions to taxpayers whose primary residences, principal places of business, critical …
IRS Publishes the Unused Housing Credit Carryovers for 2023
The IRS has published the unused low-income housing tax credit (LIHTC) carryovers for calendar year 2023. The IRS has allocated …
Prop Regs and Other Guidance on EV Car Credit Transfer Rules
The IRS has issued proposed regs and a revenue procedure that would provide guidance for taxpayers who purchase qualifying previously-owned …
Prop Regs: Triangular Reorganizations and Nonrecognition Transactions
The IRS has issued proposed reliance regs related to triangular reorganizations and nonrecognition transactions. The proposed regs adopt, with modifications, …