CPAs Submit Tweaks to Proposed Donor Advised Fund Regs
The American Institute of Certified Public Accountants (AICPA) sent a letter to leaders in the IRS Office of Chief Counsel …
IRS Analysis: Inflation Reduction Act Funds to Raise More Revenue Than Expected
In a new white paper, the IRS boasted that modernization and enforcement efforts funded by the approximately $80 billion appropriation …
Fact Sheet Contains Revised Form 1099-K FAQs
The IRS has issued Fact Sheet 2024-3, which contains revised frequently asked questions (FAQs) for Form 1099-K, Payment Card and Third-Party Network …
Agency FAQ (Part 65) Addresses TiC Disclosures for Low-Utilization Items
FAQ About Affordable Care Act Implementation Part 65 (Feb. 2, 2024) Available at https://www.dol.gov/sites/dolgov/files/EBSA/about-ebsa/our-activities/resource-center/faqs/aca-part-65.pdf The DOL, HHS, and IRS have …
IRS Provides Depreciation Tables for Passenger Automobiles
This article originally appeared in the January 19, 2024, edition of Accounting & Compliance Alert, available on Checkpoint. Get all the …
Tax Bill Roundup: January 2024
While much attention has been paid to a bipartisan tax bill involving the child tax credit and business tax benefits, …
IRS Again Taking ITIN Acceptance Agent Applications
Following a pause to allow time for the IRS to develop a new online application process, the agency is once …
Draft 2024 Form W-2 Instructions Note E-Filing Threshold Change and New Box 12 Code
The draft 2024 IRS Form W-2, Wage and Tax Statement, instructions note the threshold change for the electronic filing of several information …
Clean Vehicle Shoppers Deserve to Look Up Credit Eligibility Online by VIN, IRS Told
At a public rulemaking hearing, an IRS panel heard testimony on the searchability of eligible vehicles via an online tool …
The 200-Transactions Nexus Threshold Creeps into State Corporate Income Tax
In the five-plus years since Wayfair1 was decided, states and businesses have grappled with the level of economic contact needed to establish …