No Supervisory Approval Needed for Penalty Assessed by Computer Program
The Tax Court has determined that a failure to file information returns penalty, assessed by the IRS’ Combined Annual Wage …
CMS FAQs Address Imposition of Penalties for MSP Reporting Violations
Medicare Secondary Payer and Certain Civil Money Penalties: Frequently Asked Questions (Nov. 2, 2023) Available at https://www.cms.gov/files/document/medicare-secondary-payer-and-certain-civil-money-penalties-frequently-asked-questions.pdf Less than a …
Secretary Yellen: Paperless Filing Initiative ‘Ahead of Schedule’
The IRS’ Inflation Reduction Act-funded (PL 117-169) initiative to move tax filing, correspondence, and assistance services online is coming along …
PCAOB Slows Down Standard-Setting and Rulemaking Activities
Except for one rulemaking item regarding follow-on disciplinary proceedings, the Public Company Accounting Oversight Board (PCAOB) has pushed back the …
Speaker Johnson Doubles Down on Stripping IRS Funds for Israel Support
Days after the House passed a $14.3 billion Israel emergency aid package, the chamber’s new leader defended Republicans’ decision to …
Texas No Tax Due Report Discontinued Beginning With 2024 Report Year
by Margaret Eisler The Texas Comptroller of Public Accounts has provided notice of the discontinuation of the No Tax Due Report …
IRS Webinar: ERC Withdrawal Process, Common Issues, and Repayment Process Coming Soon
By Debbie Tam On November 2, the IRS presented a webinar, Employee Retention Credit: Latest information on the Moratorium and Options …
IRS Seeks Volunteers for Free Tax Services
The IRS has announced its Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) programs are currently …
Former TCJA Staffer Defends Validity of Transition Tax in Moore
A former Republican staffer who worked directly on the construction of the Tax Cuts and Jobs Act’s one-time transition tax …
Dozens of Firms, Groups Balk Over Proposed FASB Disclosure Rules on Income Statement Expenses
Some of the nation’s biggest companies and trade organizations told the FASB that its proposed disclosure rules to disaggregate income …