IRS Withdraws Rule on Tax Return Disclosures in Connection with Passport Services
The IRS will not proceed with a rulemaking that would have authorized the State Department to disclose taxpayer return information …
With Congress Back, Here’s What to Watch in Tax
Lawmakers return to Washington this week after over a month-long recess, and funding the government is expected to be first …
Payroll Professionals Weigh Overtime Reporting Changes as Related IRS Drafts Forms Surface
The Highlights New Tax Break: Up to $12,500 in overtime pay is now tax-deductible for eligible workers. Employer Role: Employers …
Illinois Offers Tax Amnesty
The Illinois Department of Revenue has issued an informational bulletin providing detailed information on tax amnesty which is available to …
NCAA’s Tax-Exempt Status Under Pressure as Student-Athletes Gameplan for New Revenue Sharing
The state of play in the world of college athletics has shifted considerably in recent years amid an overhaul to …
Transition Guidance on OBBBA Domestic, Foreign Research Expensing Issued
The IRS on Thursday issued transitional guidance on the One Big Beautiful Bill’s (OBBBA) amendments to the treatment of research …
Amid Budget Cuts, AI Could Play Role in IRS Modernization
As the IRS gears up for the upcoming filing season and implements provisions of the new Tax Act, recent efforts …
SEC Urges PCAOB to Delay New Audit Quality Control Standard Amid Industry Pushback, Sources Say
Securities and Exchange Commission (SEC) Chair Paul Atkins and the commission’s Chief Accountant Kurt Hohl are said to have urged …
Court Delays Key Provisions of Marketplace Integrity Regulations; Cost-Sharing Increases Remain on Schedule
City of Columbus v. Kennedy, 2025 WL 2426382 (D. Md. 2025) Available at https://www.govinfo.gov/content/pkg/USCOURTS-mdd-1_25-cv-02114/pdf/USCOURTS-mdd-1_25-cv-02114-0.pdf A federal trial court has temporarily …
Cuts in Multilingual Resources May Impact Tax Compliance
Congressional Democrats are urging that the IRS maintain resources and services for non-English speakers – contending that eliminating these options …